What should be done if a title agency receives funds from a transaction?

If a title agency receives funds from a transaction, it is crucial to deposit those funds into a designated trust account within a specific timeframe. This is to ensure that the funds are handled in accordance with legal and regulatory requirements. Depositing the funds within two business days is a standard practice, as it helps to safeguard the client's money and ensures that the agency is operating transparently and responsibly.

Maintaining proper handling of funds protects consumers and upholds the fiduciary duties entrusted to title agencies. The requirement to deposit funds promptly is typically outlined in state regulations or agency policies to prevent any misuse or commingling of client funds with the agency's operational funds. This aligns with the overall objective of maintaining trust and integrity in the title insurance process.