§ 35.322. Nonwaiver of escrow duty.

 A broker’s escrow duty may not be waived or altered by an agreement between the parties to the transaction, between the broker and the parties, or between the broker and other brokers who may be involved in the transaction.

Authority

   The provisions of this §  35.322 issued under the Real Estate Licensing and Registration Act (63 P.S. § §  455.101—455.902).

Source

   The provisions of this §  35.322 adopted February 24, 1989, effective February 25, 1989, 19 Pa.B. 781.

Notes of Decisions

   Where a deposit from a prospective purchaser was never entrusted to a real estate agent and the prospective purchaser, with knowledge, enters into an agreement to pay a deposit directly to the builder, there is no duty to deposit those funds into an escrow account. Ramalingam v. Keller Williams Realty Group, Inc., 121 A.3d 1034 (2015).



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