What is the timeframe in which a salesperson must give earnest money to the supervising broker after receipt?

In Montana, after a salesperson receives earnest money, they are required to deliver that money to their supervising broker within three business days. This regulation ensures that earnest money, which demonstrates a buyer's serious intent to purchase a property, is handled promptly and securely. By establishing this timeframe, the law aims to maintain trust in real estate transactions and protect the interests of all parties involved. Timely handling of earnest money helps prevent potential disputes and reinforces the salesperson's professional responsibility.