An office manager in Boone is training a new associate on disputed earnest money and the clerk-of-court procedure. Which statement best applies under current North Carolina law?
Correct Answer
A) 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
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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