New Jersey § 45:15-12
Full text of New Jersey New Jersey Statutes § 45:15-12, with citation guidance and answers to common questions.
§ 45:15-12.
Every real estate licensee who, in the performance of any of the activities described
in R.S.45:15-3 , receives any monies of others as a representative of a broker acting as an escrow
agent or as the temporary custodian of the funds of others in a real estate transaction,
shall only accept the monies if they are in the form of cash or a negotiable instrument
payable to the broker through whom the individual is licensed , or such other form as the commission may prescribe by rule . The licensee shall, immediately upon receipt of the funds, account for and deliver
the funds to the broker for deposit into the escrow or trust account maintained by
the broker, or for such other disposition as is required by the escrow agreement under
the terms of which the funds were provided to the licensee.
Frequently Asked Questions About New Jersey § 45:15-12
What does New Jersey Statutes § 45:15-12 cover?
Section 45:15-12 is part of the New Jersey Statutes, the codified statutory law of New Jersey. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite New Jersey § 45:15-12?
A common citation format is "New Jersey Statutes § 45:15-12" (New Jersey). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of New Jersey law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the New Jersey official source linked on this page or consult a licensed New Jersey attorney.
How does New Jersey § 45:15-12 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in New Jersey can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in New Jersey.