Question

"Which of the following is not an option when there is a dispute over earnest money?"

a) The funds can be deposited into the registry of the court

b) The funds can be delivered to the party the broker believes is entitled under the contract

c) The broker may hold the funds until the dispute is resolved

d) The broker can release the funds if he gets a release from both parties

Answer 1

The correct answer is d) The broker can release the funds if he gets a release from both parties. When there is a dispute over earnest money, typically the broker would not have the authority to release the funds without consent from both parties involved.

Step-by-step explanation:

The correct answer is d) The broker can release the funds if he gets a release from both parties.

When there is a dispute over earnest money, typically the broker would not have the authority to release the funds without consent from both parties involved. This is to ensure that the earnest money is protected and not released until the dispute is resolved.

Options a), b), and c) are all valid choices when there is a dispute over earnest money, as they involve preserving and holding the funds until the dispute is resolved.