Arkansas Real Estate Practice Exam

What action must a broker take when disbursing trust funds without all parties' written agreement?

1. Seek a court order

2. Notify all parties in writing immediately

3. Obtain verbal consent from all parties

4. No action required

The correct answer is: Notify all parties in writing immediately

When disbursing trust funds without written agreement, a broker must notify all parties in writing immediately. Seeking a court order or obtaining verbal consent are not sufficient as they do not provide written documentation that all parties have agreed to the disbursement. No action is also not the correct answer as it is the broker's responsibility to ensure all parties are in agreement before disbursing any trust funds.