Q: I’m a broker/owner of a real estate brokerage corporation. My company maintains several escrow accounts. A friend, who is also a broker, indicated that I’m required to send the monthly escrow reconciliation statements to FREC. Am I required to do so?
A: No. There is no requirement to send FREC the monthly escrow reconciliation statements. Rule 61J2-14.012, Florida Administrative Code, requires that each escrow account be reconciled in writing at least once monthly but does not state that those monthly escrow reconciliation statements must be sent to FREC.