Security deposit

[Jaime Soto]

Hi,

I am in the Fayetteville, NC area. I have a 4 units that has been always managed by a  local company and now I want to manage them. The property manager is telling me that I need a Trust Account for my tenants security deposit... Can anyone explain how can I set up that account and if I can put all tenants security deposits in one account???

This is the first time I write in BP..... THANKS!!!!!!!

[Dawn Brenengen]

@Jaime Soto  Even if it is your own property, it must be in a trust account.  Here is the link to the statute

http://www.ncleg.net/EnactedLegislation/Statutes/P...