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Pennsylvania · State License Law — free study notes for the real estate licensing exam.
🏛️ State License Law 📍 PennsylvaniaIn Pennsylvania, a broker must deposit money belonging to others (such as deposits and earnest money) into a separate escrow or trust account and may not commingle these funds with personal or business operating funds. Salesperson and broker licenses are renewed on a two-year cycle, and licensees must complete the required continuing education to renew. Failing to maintain proper escrow handling or to satisfy continuing-education requirements can result in disciplinary action by the State Real Estate Commission.
Yes. State License Law is a scored domain on the Pennsylvania real estate licensing exam, and this topic appears in the state license-law portion.
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Pennsylvania applies its own license law on top of the national portion. This page covers the Pennsylvania rules specifically, which is what the state section of your exam tests.