21(1)Subject to subsection (3), an agent who receives a deposit on a trade in real estate shall hold it as trustee on behalf of all the parties to the trade in accordance with their respective rights under the offer or contract and not as agent for any one of them, and the agent shall have the responsibility to pay or account for it to the proper party.

21(2)In the event of a dispute between the parties in respect of a deposit under subsection (1), the agent may, and if it is necessary to resolve the dispute the agent shall, pay the deposit into court on an interpleader.

21(3)Despite subsection (1), an agent may receive a deposit as agent for one party to a trade in real estate if the offer or contract under which the deposit is received so provides and every other party acknowledges this provision in writing, either in a separate document or in a separate part of the offer or contract.

21(1)Subject to subsection (3), an agent who receives a deposit on a trade in real estate shall hold it as trustee on behalf of all the parties to the trade in accordance with their respective rights under the offer or contract and not as agent for any one of them, and the agent shall have the responsibility to pay or account for it to the proper party.

21(2)In the event of a dispute between the parties in respect of a deposit under subsection (1), the agent may, and if it is necessary to resolve the dispute the agent shall, pay the deposit into court on an interpleader.

21(3)Despite subsection (1), an agent may receive a deposit as agent for one party to a trade in real estate if the offer or contract under which the deposit is received so provides and every other party acknowledges this provision in writing, either in a separate document or in a separate part of the offer or contract.