Final answer:
The real estate agency should be provided with details about the client's trust account that include the client's name, the opening date of the account, account number, financial institution details, name(s) of trustees, and confirmation of the account's trust status.
Step-by-step explanation:
When a real estate agency is informed that a client's trust account has been opened, the notification should include specific information to ensure proper record-keeping and compliance with legal and regulatory requirements. Typically, the following details are included:
- The name of the client for whom the trust account has been established.
- The day the trust account was first opened.
- The account number and the name of the financial institution where the account is held.
- The name(s) of the trustee(s) or the person(s) authorized to manage the account.
- Documentation or evidence that the account is designated as a trust.
- Confirmation that the trust account is separate from the agency's operating or business accounts.
This information ensures transparency and aids in the proper management of the trust account.