Missouri · RSMo 339.105Missouri earnest money: the escrow account, prompt deposit and what happens to disputed funds

Each Missouri broker holding money that belongs to others keeps it in a separate bank account designated as an escrow or trust account – including funds in which the broker may have a future interest – and deposits it promptly unless everyone with an interest in the funds agrees otherwise in writing; the broker may keep up to $1,000 of its own money there for service charges (RSMo 339.105(1)). The broker tells the commission where each escrow account is, or that it doesn't keep one, authorizes the commission to examine it, and keeps the books, records and contracts needed to check the account at its usual place of business (§339.105(2)–(3)). When the parties to a sale dispute who owns escrowed money, the broker reports and delivers it to the state treasurer within 365 days of the initial projected closing date under the unclaimed property law; the parties can agree in writing that the funds aren't in dispute and tell the broker (§339.105(4)). The broker isn't entitled to any of the money as its commission until the transaction closes or terminates, unless all parties agree in writing (§339.105(5)).