Broker Thompson discovers that earnest money from a failed transaction has been sitting in his escrow account for 18 months. The buyer and seller cannot agree on disbursement. What is Thompson's best course of action under Florida law?
Correct Answer
C) File an interpleader action with the court
Correct: When parties cannot agree on escrow disbursement, brokers should file interpleader to let the court decide and avoid liability under F.S. 475.25. Why not A: Indefinite holding creates liability and potential escheatment issues. Why not B: Brokers cannot unilaterally decide disputed disbursements. Why not D: Funds aren't unclaimed property when there's a known dispute.
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Sales Associate Karen tells Broker Smith that she has been working weekends at another real estate brokerage without his knowledge. What action must Broker Smith take under Florida law?
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