Final answer:
After the closing of a real estate transaction, a broker must typically 'pay over' within a time frame governed by state laws, often immediately or within 24 to 48 hours, according to the contract of sale.
Step-by-step explanation:
The time limit within which a broker must "pay over" after the closing of a transaction is typically governed by state laws and the contract of sale. Although this can vary by jurisdiction, a common requirement is that funds must be disbursed at "settlement" or "close of escrow." This is generally a specific number of days stated in the contract, often immediately upon closing or within 24 to 48 hours. Real estate transactions dictate that once all conditions of the sale are met and the deal is closed, the broker must ensure that all parties receive their due payments. It is crucial for brokers to abide by these regulations to avoid legal issues and uphold professional standards.