A broker-in-charge in Charlotte is sorting out a file issue involving disputed earnest money and the clerk-of-court procedure. Which statement best applies under current North Carolina law?
Correct Answer
A) If earnest money becomes disputed, the broker must generally continue to hold it until the parties agree in writing, a court orders disbursement, or the clerk-of-court procedure is properly used.
If earnest money becomes disputed, the broker must generally continue to hold it until the parties agree in writing, a court orders disbursement, or the clerk-of-court procedure is properly used.
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