Practice Of Real EstateTrust AccountsEASY
Which North Carolina label best fits this description about trust deposit timing and negotiable instruments? Use the description below. 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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Related Topics & Key Terms
Key Terms:
3_banking_daysdefinitiondifficulty_1nc_statenc_trust_account_escrow_requirementsnorth_carolinascenario_traps_edge_cases_and_enforcementtrust_deposit_timing_and_instruments
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