6c1c7539_Georgia_Real_Estate_Infobase__2
[1] (e) [2] 
FUNDS COLLECTED ON LAND CONTRACTS OR WRAPAROUND MORTGAGES - Payments collected on the sale of a property owned by a licensee and sold under a land contract (installment contract) or a wraparound mortgage. When a licensee collects these payments from the buyer and also owes obligations against the property (for example, mortgages, taxes, and insurance), the licensee must deposit the payments into a trust account until he or she has met such obligations and properly accounted for the funds to the parties.
Georgia Real Estate Infobase
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