Select the North Carolina concept described below for disputed earnest money and the clerk-of-court procedure. Use the description below. Description: The North Carolina statutory route allowing a broker to deposit certain disputed earnest money with the local clerk after notice and waiting period.
Correct Answer
C) Clerk-of-court deposit under G.S. 93A-12
Clerk-of-court deposit under G.S. 93A-12
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Related Topics & Key Terms
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Related Concepts
Market allocation is an illegal antitrust practice in which competing real estate brokerages agree to divide markets among themselves by geographic area, property type, or price range, thereby eliminating competition.
Price fixing is an illegal antitrust practice in which competing real estate brokerages agree to charge the same commission rates, fees, or other pricing for their services. It is a per se violation of the Sherman Antitrust Act.
Florida brokers are required to maintain transaction records and escrow records for a minimum of five years.
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In Wyoming real estate practice, an associate broker or salesperson is not associated with a responsible broker at renewal. What should the licensee remember?
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