Practice Of Real EstateTrust AccountsMEDIUM
Which term or document is being described in this North Carolina item on trust deposit timing and negotiable instruments? Choose from the options using this description. Description: The characteristic that makes funds subject to North Carolina trust-money rules when the broker is holding them for others.
Correct Answer
A) Receipt in a fiduciary capacity
Receipt in a fiduciary capacity
Answer Options
A
Receipt in a fiduciary capacityB
Receipt by email onlyC
Receipt in a seller-financed dealD
Receipt after inspectionWhy This Is the Correct Answer
Sign up free to unlock full analysis
Why the Other Options Are Wrong
Sign up free to unlock full analysis
Deep Analysis of This Practice Of Real Estate Question
Sign up free to unlock full analysis
Background Knowledge for Practice Of Real Estate
Sign up free to unlock full analysis
Sign up free to unlock full analysis
Real World Application in Practice Of Real Estate
Sign up free to unlock full analysis
Common Mistakes to Avoid on Practice Of Real Estate Questions
Sign up free to unlock full analysis
Related Topics & Key Terms
Key Terms:
core_rules_and_definitionsdefinitiondifficulty_3fiduciary_capacitync_statenc_trust_account_escrow_requirementsnorth_carolinatrust_deposit_timing_and_instruments
Was this explanation helpful?
More Practice Of Real Estate Questions
A firm owner in New Bern is auditing the firm's approach to licensure scope, definitions, and exemptions. Which statement is NOT accurate under current North Carolina law?
How many hours of continuing education are required for NC licensees?
Nevada law requires purchase agreement copies be kept for at least:
A transaction coordinator in Cary is sorting out a file issue involving prelicensing, Postlicensing, and the 18-month deadline. Which statement best applies under current North Carolina law?
How many members serve on the New Mexico Real Estate Commission (NMREC)?
- → A closing-file reviewer in Raleigh is sorting out a file issue involving prelicensing, Postlicensing, and the 18-month deadline. Which statement best applies under current North Carolina law?
- → A firm owner in Chapel Hill is sorting out a file issue involving prelicensing, Postlicensing, and the 18-month deadline. Which statement best applies under current North Carolina law?
- → A compliance reviewer in High Point is sorting out a file issue involving prelicensing, Postlicensing, and the 18-month deadline. Which statement best applies under current North Carolina law?
- → A buyer representative in Huntersville is updating the policy manual on prelicensing, Postlicensing, and the 18-month deadline. Which statement best applies under current North Carolina law?
- → A provisional broker in Raleigh is answering a client question about advertising, supervision, and representation disclosures. Which statement best applies under current North Carolina law?
- → Choose the North Carolina concept that fits this description about prelicensing, Postlicensing, and the 18-month deadline. Description: The North Carolina course sequence totaling ninety hours after initial licensure
- → A firm owner in Greenville is updating the policy manual on prelicensing, Postlicensing, and the 18-month deadline. Which statement best applies under current North Carolina law?
- → A Charlotte broker is answering a client question about advertising, supervision, and representation disclosures. Which statement best applies under current North Carolina law?
- → Under Georgia license law, what is the primary purpose of the Georgia Real Estate Commission?
- → Who issues real estate licenses in North Carolina?