choose correct answer

The purpose of a trust account in real estate is to:

1. Security deposits for commercial, industrial or storage land for transactions.
2. Protect everyone involved in the real estate transaction. They are heavily governed by legislation and failure to comply can result in hefty penalties and even loss of licence.
3. To minimise estate taxes and hold assets on behalf of someone else.
4. Money that is deposited in a general business account on behalf of a client.