In case of escrow dispute/good-faith doubt, within how many business days must the broker notify FREC?

• A. 5 business days
• B. 30 business days
• C. 15 business days
• D. 60 days

Answer: (C)

When escrow funds are in dispute or there is a good-faith doubt about who is entitled to them, the broker must alert the Florida Real Estate Commission in writing within 15 business days after the dispute arises. This deadline ensures timely regulatory involvement to protect the funds and guide proper resolution, and it helps prevent improper disbursement or mishandling while the dispute is being settled. The notice should summarize the dispute, identify the escrow account and parties involved, and provide any relevant details. Missing this deadline can lead to disciplinary action by the Commission, which underscores why knowing and meeting the timeframe is essential.