PDF
Word
TREC Form TSR5-1 Escrow Surety Bond - Texas
What Is TREC Form TSR5-1?
This is a legal form that was released by the Texas Real Estate Commission - a government authority operating within Texas. As of today, no separate filing guidelines for the form are provided by the issuing department.
FAQ
Q: What is a TREC Form TSR5-1 Escrow Surety Bond?
A: It is a type of bond required by the Texas Real Estate Commission (TREC) for real estate escrow accounts.
Q: Who requires the TREC Form TSR5-1 Escrow Surety Bond?
A: The Texas Real Estate Commission (TREC) requires this bond.
Q: What is the purpose of the TREC Form TSR5-1 Escrow Surety Bond?
A: The bond provides financial protection in case of fraud or misappropriation of funds by a real estate broker.
Q: Who needs to obtain a TREC Form TSR5-1 Escrow Surety Bond?
A: Real estate brokers in Texas who handle escrow funds are required to obtain this bond.
Q: How much does the TREC Form TSR5-1 Escrow Surety Bond cost?
A: The cost of the bond varies depending on the broker's financial standing and the amount of the bond required.
Q: How long is the TREC Form TSR5-1 Escrow Surety Bond valid?
A: The bond is typically valid for one year and needs to be renewed annually.
Q: What happens if a claim is filed against the TREC Form TSR5-1 Escrow Surety Bond?
A: If a valid claim is filed, the surety bond company will compensate the claimant up to the bond's coverage amount.
Q: Can I cancel the TREC Form TSR5-1 Escrow Surety Bond?
A: The bond can be canceled by the surety bond company or the broker, but proper notice needs to be given to TREC.
Q: What are the consequences of not having a TREC Form TSR5-1 Escrow Surety Bond?
A: Failure to have this bond in place can result in disciplinary action by TREC, including license suspension or revocation.
Form Details:
- Released on July 1, 2016;
- The latest edition provided by the Texas Real Estate Commission;
- Easy to use and ready to print;
- Quick to customize;
- Compatible with most PDF-viewing applications;
- Fill out the form in our online filing application.
Download a fillable version of TREC Form TSR5-1 by clicking the link below or browse more documents and templates provided by the Texas Real Estate Commission.
