A compliance reviewer in Greenville is preparing an exam-prep note on trust deposit timing and negotiable instruments. Which statement best applies under current North Carolina law?
Correct Answer
A) A check payable directly to the seller, such as many due diligence fees, is handled differently from earnest money payable to an escrow agent.
A check payable directly to the seller, such as many due diligence fees, is handled differently from earnest money payable to an escrow agent.
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Related Topics & Key Terms
Key Terms:
Related Concepts
The National Do Not Call Registry is a federal program administered by the FTC that allows consumers to opt out of receiving unsolicited telemarketing calls, including calls from real estate agents soliciting business.
Brokers in Florida have strict responsibilities for managing escrow accounts, including monthly reconciliation and proper handling of trust funds.
FREC has the authority to impose fines and other disciplinary actions on licensees who violate real estate laws and rules.
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