License Law & RulesCâu 35 / 120
If a broker's escrow account has conflicting demands from a buyer and seller over a disputed deposit, Florida law allows the broker to use several settlement procedures, including:
a.Keeping the disputed funds as a commission
b.Immediately giving the funds to whichever party asks first
c.Requesting an escrow disbursement order (EDO) from FREC
d.Ignoring the dispute indefinitely
Giải thích
When there are conflicting demands or a good-faith doubt over escrowed funds, a Florida broker must promptly notify FREC and choose a settlement procedure such as an EDO, mediation, arbitration, or interpleader. The broker may not simply keep or arbitrarily release the funds. Timely notification is required by law.
Luyện miễn phí toàn bộ 120 câu hỏi — không cần đăng ký.
Câu hỏi liên quan cùng chủ đề
- Which of the following actions by a licensee would most likely be grounds for disciplinary action by FREC?
- A Florida broker who wishes to open a real estate office must:
- The purpose of continuing education requirements for Florida real estate licensees is primarily to:
- Which of the following individuals generally must hold a real estate license to be paid a commission for the activity described?
- An 'earnest money deposit' delivered by a buyer with an offer is typically held by the:
- A licensee who tells a buyer that a home 'has the best view in the county' is most likely engaging in:
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