Fillable Real Estate Company/Branch Change

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Form to change Real Estate Company or Branch.

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The Real Estate Company/Branch Change form is 1 page long and contains:

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11 check-boxes
18 other fields

Country of origin: US
File type: PDF

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Utah Division of Real Estate (DRE) aims to protect the public and promote responsible business practices through education, licensure, and regulation of real estate, mortgage, and appraisal professionals

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REAL ESTATE COMPANY/BRANCH CHANGE

State of Utah

Department of Commerce

Division of Real Estate

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Please complete (type or neatly print), sign and submit this form along with the items listed below by fax, mail, or in person.

CHANGE FOR: ( ) Company ( ) Branch ( ) Property Management Company



Company Name:



Company License Number:



Ph: Fax:



Physical Address:

Mailing Address:

Brokers Name: Brokers License Number:

Broker Email: Ph: Cell:

( ) Check - Please make checks payable to: Utah Division of Real Estate

( ) Visa ( ) MasterCard ( ) American Express

Card #: Expiration:



Signature CCV#

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( ) Activation – requirements: - Company name active with the Utah Division of Corporations

- Notarized letter on company letterhead authorizing activating Broker to use company name.

(Unless owned by Broker)

- Documentation from a financial institution less than 30 days old verifying a trust account and

an operating account on which the Broker is a signatory.

- Change Card for the Company’s Broker

- Change Card for each licensee affiliating with the Company

- $15 non-refundable activation fee



( ) Deactivation – requirements: - Letter stating company is closing, address of records, and information for a contact person

- Change Card for each licensee disassociating with the Company

- Change Card for the Company’s Broker



( ) Name Change* – requirements: - Company name active with the Utah Division of Corporations

- Letter on company letterhead authorizing name change (unless owned by Broker)

- Documentation from a financial institution less than 30 days old verifying a trust account and

an operating account on which the Principal Broker is a signatory.

- $100 non-refundable name change fee

- Old Company Name:

*Can only be used if company ownership is the same. If company ownership is different, must register as a

new company.

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( ) Broker Change – requirements: - Notarized letter on company letterhead authorizing incoming Broker to use company name.

(Unless owned by Broker)

- Documentation from a financial institution less than 30 days old verifying a trust account and

an operating account on which the new Broker is a signatory. (Proof of accounts not required

if same accounts as

main office.)

- Change Card for the exiting Broker

- Change Card for the incoming Broker

- $50 non-refundable broker change fee

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I hereby certify that the information provided with this application is true and correct.

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Principal Broker Signature Date

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Branch Broker Signature Date

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Rev.10/16/2018

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160 East 300 South, PO Box 146711, Salt Lake City, UT 84114-6711

Telephone (801) 530-6747 • Facsimile (801) 526-4387 • Internet: www.realestate.utah.gov

dd mmm yyyy

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UTAHDIVISIONOFREALESTATE

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TRUSTACCOUNTANDOPERATINGACCOUNTDOCUMENTATIONREQUIREMENTS



OPERATINGACCOUNT



DocumentationMUSTbelessthan30daysoldfromaUtahbankorcreditunionverifyingan

operatingaccountandincludestheentireaccountnumber.



REALESTATETRUSTACCOUNT



DocumentationMUSTbelessthan30daysoldfromaUtahbankorcreditunionverifyingareal

estatetrustaccount,includestheentireaccountnumber,showstheBrokerasasignatoryand

includesthecompanynameandtheterm“RealEstateTrustAccount”intheaccountname(no

abbreviationsaccepted). Example: AjaxRealEstate–RealEstateTrustAccount.



PROPERTYMANAGEMENTTRUSTACCOUNT



Ifapplicable,documentationMUSTbelessthan30daysoldfromaUtahbankorcreditunion

verifyingapropertymanagementtrustaccount,includestheentireaccountnumber,showsthe



Brokerasasignatoryandincludesthecompanynameandtheterm“PropertyManagement



TrustAccount”intheaccountname(noabbrev iationsaccepted). Example: AjaxRealEstate–

PropertyManagementTrustAccount.



ACCEPTABLEDOCUMENTATION



Letterfromthebankorcreditunionontheirletterheadsignedanddatedbyabankorcredit



unionrepresentativeverify ingandincludingALLrequiredaccountinformationasexplained

aboveORbankorcreditunionstatementsverifyingandincludingALLrequiredaccount



informationasexplainedabove.

Note: Brokersmustestablishandmaintainatleastonerealestatetrustaccountinabank

orcreditunionlocatedwithinthestateofUtahandisseparatefromanyoperating

account(s).Trustaccountsshallbenon‐interest‐bearing,unlessthepartiestothetransaction

agreeinwritingtodepositthefundsinaninterest‐bearingaccount;thepartiestothe

transactiondesignateinwritingthepersontowhomtheinterestwillbepaidupon

completionorfailureofthesale;orthepartiestothetransactionqualifiesatthetimeof

paymentasanon‐profitorganizationunderSection501(c)(3)oftheInternalRevenueCode;

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andoperatesexclusivelytoprovidegrantstoaffordablehousingprogramsinUtah;andthe

affordablehousingprogramthatistherecipientofthegrantqualifiesatthetimeofpayment

asanon‐profitorganizationunderSection501(c)(3)oftheInternalRevenueCode.



Brokersengaginginpropertymanagementofsevenormoreindividualunitsmustestablish

andmaintainatleastonepropertymanagementtrustaccountinabankorcreditunion

locatedwithinthestateofUtahandisseparatefromanyrealestatetrustaccount(s)and



operatingaccount(s).Atrustaccountthatisusedexclusivelyforpropertymanagement

purposesshallbeusedtosecuretenantsecuritydeposits,rentsandmoneytenderedbya



propertyownerasareservefundorforpaymentofunexpectedexpenses.

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FurtherinformationanddetailscanbefoundontheUtahDivisionofRealEstate



websiteatwww.realestate.utah.gov.



RefertoAdministrativeRules:

 R162‐2f‐403a.TrustAccounts‐GeneralProvisions.

 R162‐2f‐403b.RealEstateTrustAccounts.

 R162‐2f‐403c.PropertyManagementTrustAccounts.

 R162‐2f‐205.Regist rationofEntity.

 R162‐2f‐202b.PrincipalBrokerLicensingFeesandProcedures.

 R162‐2f‐401k.RecordkeepingRequirements.

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Completed 17 December 2018

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