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AGO Opinions with Topic: MAINTENANCE OF SECURITY DEPOSITS
AGO 1984 No. 18 >  August 3, 1984
LANDLORD AND TENANT - REAL ESTATE - INTEREST - MAINTENANCE OF SECURITY DEPOSITS
ASSIGNMENT OF INTEREST TO PROPERTY MANAGER Owners of residential income properties may assign their entitlement (under RCW 59.18.270) to interest on a trust bank account containing damage or security deposits to the real estate broker managing the property who has been designated as the representative of the owner; however, in order to avoid a violation of RCW 18.85.310, the interest moneys must not be initially deposited into the trust account but must, instead, be immediately credited to the real estate broker's own separate account.
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