What is a required action when the broker has good faith doubt about escrow funds entitlement?

When a broker has good faith doubt about the entitlement to escrow funds, the correct action to take is to notify the commission within 15 business days. This requirement is in place to ensure that any disputes regarding the funds are handled properly and in accordance with regulatory standards. By notifying the commission, the broker seeks guidance on how to proceed, allowing for proper legal and ethical management of the funds in question.

This action ensures transparency in the transaction and helps protect all parties involved. Notifying the commission facilitates a structured process for resolving disputes over escrow, which can prevent potential legal complications and ensure that funds are managed according to state regulations.

The other actions, while potentially reasonable in their context, do not fulfill the formal obligation of notifying the commission under these circumstances. Immediate notification to the buyer could lead to confusion or further disputes, contacting a real estate attorney may delay the process, and disbursing funds to the seller without resolution of the doubt could result in significant legal ramifications for the broker. Thus, notifying the commission is the appropriate and required step in this situation.