Practice Of Real EstateTrust AccountsMEDIUM
Identify the North Carolina term, form, or concept described here for trust deposit timing and negotiable instruments. Apply the description that follows. Description: The North Carolina deadline that ordinarily controls deposit of trust money after receipt.
Correct Answer
C) No later than three banking days after receipt
No later than three banking days after receipt
Answer Options
A
No later than the closing dateB
No later than June 10 under current North Carolina rulesC
No later than three banking days after receiptD
No later than the effective date of the contractWhy This Is the Correct Answer
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Why the Other Options Are Wrong
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Key Terms:
3_banking_daysdefinitiondifficulty_3nc_statenc_trust_account_escrow_requirementsnorth_carolinatiming_forms_exceptions_and_authoritytrust_deposit_timing_and_instruments
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