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Massachusetts · State License Law — free study notes for the real estate licensing exam.
🏛️ State License Law 📍 MassachusettsIn Massachusetts, client and escrow money such as deposits must be kept separate from the broker's own funds in a designated escrow or trust account, and commingling these funds with personal or business accounts is prohibited. The broker is responsible for proper handling and accounting of these monies. Real estate licenses are renewed on a recurring cycle, and licensees must complete approved continuing-education requirements to remain in good standing and keep their license active.
Yes. State License Law is a scored domain on the Massachusetts real estate licensing exam, and this topic appears in the state license-law portion.
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Massachusetts applies its own license law on top of the national portion. This page covers the Massachusetts rules specifically, which is what the state section of your exam tests.