Broker Ron wants to open a separate escrow account for each transaction he is involved in. Is this legal?

Yes, there is no legal limit on the number of escrow accounts a broker can have.

Explanation:

A broker transaction facilitates sale between a buyer and a seller.

The broker states a price for the buyer that is an addition of the seller's price and his commission.

An escrow account is one that recieves the buyer's money and notifies seller to transfer goods to the buyer. Once reciept of the goods has been confirmed by the buyer, seller's money is released to him and broker commission paid to him.

There is no legal limit to the number of escrow accounts a broker can have. So Ron can open seperate escrow accounts for each transaction he is doing.

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