If an advance fee is charged by a timeshare resale broker, what percentage of that fee must be deposited into his trust account?

When a timeshare resale broker charges an advance fee, the requirement is that 100% of that fee must be deposited into a trust account. This regulation is in place to ensure consumer protection and to promote ethical practices within the timeshare resale industry. By requiring the full fee to be held in a trust account, it safeguards the funds until the services are rendered or the conditions of the agreement are fulfilled. This practice helps prevent potential misuse of client funds and promotes transparency in the business dealings of the broker. It is important for consumers to be aware of this requirement as it can help them assess the legitimacy and reliability of the services being offered.