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Introduction to Trust Account & Fidelity Fund Online Course
This short 10-day course will take you through the basic understanding of what is required of the Property Practitioner by the Regulatory Authority when applying to become a real estate property practitioner and how to manage trust funds.
Our skill-enhancing online course carefully explains legislated requirements, so that any Property Practitioner entering the industry will be able to easily understand what the compliance factors surrounding both fidelity fund certificates and trust accounts.
The fidelity fund is insurance protecting the public against any misconduct he or she may encounter when concluding a property transaction with a real estate property practitioner. For this reason, it is regulated that all property practitioners must hold a valid current fidelity fund certificate, failing which they will not be allowed to trade.
Trust accounts are legislated by the Act, and all real estate firms must hold at least one trust account and adhere to the regulations surrounding trust accounts. Non-compliance can result in a penalty and/or a jail sentence.