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Under Michigan law, earnest money deposits must be:
2:24
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Audio Lesson
Duration: 2:24
Question & Answer
Review the question and all answer choices
A
Held by the seller directly
B
Deposited in a trust account within 2 banking days
Correct Answer
C
Given to the buyer's attorney
D
Not regulated
Why is this correct?
Michigan requires earnest money deposits to be deposited in a trust account within 2 banking days of receipt.
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