An office manager in New Bern is answering a client question about disputed earnest money and the clerk-of-court procedure. Which statement best applies under current North Carolina law?
Correct Answer
B) Under G.S. 93A-12, disputed earnest money may be deposited with the clerk of court in the county where the property is located after proper notice and the required waiting period.
Under G.S. 93A-12, disputed earnest money may be deposited with the clerk of court in the county where the property is located after proper notice and the required waiting period.
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Related Topics & Key Terms
Key Terms:
Related Concepts
Continuing education (CE) refers to the ongoing coursework that licensed real estate professionals must complete during each renewal cycle to maintain an active license. CE ensures agents stay current with changes in laws, regulations, and industry practices.
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.
More Practice Of Real Estate Questions
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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