Practice Of Real EstateTrust AccountsHARD
Which North Carolina term best matches this description about trust deposit timing and negotiable instruments? Read the description and choose the matching concept. Description: The characteristic that makes funds subject to North Carolina trust-money rules when the broker is holding them for others.
Correct Answer
D) Receipt in a fiduciary capacity
Receipt in a fiduciary capacity
Answer Options
A
Receipt by email onlyB
Receipt after inspectionC
Receipt in a seller-financed dealD
Receipt in a fiduciary capacityWhy This Is the Correct Answer
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Why the Other Options Are Wrong
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Related Topics & Key Terms
Key Terms:
core_rules_and_definitionsdefinitiondifficulty_4fiduciary_capacitync_statenc_trust_account_escrow_requirementsnorth_carolinatrust_deposit_timing_and_instruments
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