Practice Of Real EstateTrust AccountsHARD
On a North Carolina exam item about trust deposit timing and negotiable instruments, which concept is being defined? Apply the description that follows. Description: The characteristic that makes funds subject to North Carolina trust-money rules when the broker is holding them for others.
Correct Answer
B) Receipt in a fiduciary capacity
Receipt in a fiduciary capacity
Answer Options
A
Receipt by email onlyB
Receipt in a fiduciary capacityC
Receipt after inspectionD
Receipt in a seller-financed dealWhy This Is the Correct Answer
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Background Knowledge for Practice Of Real Estate
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Related Topics & Key Terms
Key Terms:
definitiondifficulty_5fiduciary_capacitync_statenc_trust_account_escrow_requirementsnorth_carolinatiming_forms_exceptions_and_authoritytrust_deposit_timing_and_instruments
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