A listing broker in Greenville 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
A) The disputed-money statute is aimed at earnest money and similar disputed monies, not at residential tenant security deposits handled under different law.
The disputed-money statute is aimed at earnest money and similar disputed monies, not at residential tenant security deposits handled under different law.
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Related Topics & Key Terms
Key Terms:
Related Concepts
Brokers in Florida have strict responsibilities for managing escrow accounts, including monthly reconciliation and proper handling of trust funds.
FREC has the authority to impose fines and other disciplinary actions on licensees who violate real estate laws and rules.
A group boycott is an illegal antitrust practice in which two or more competing real estate businesses agree to refuse to work with a specific person, company, or entity in order to harm that party's ability to compete.
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