Contracts
In Alabama, earnest money deposited with a broker becomes the broker's property:
AImmediately upon receipt
BNever — it remains client property until distributed per contract terms✓ Correct
CAfter the seller accepts the offer
DAt closing
Explanation
Earnest money deposited with a broker is client property held in trust. It never becomes the broker's personal property and must be disbursed per the contract terms or mutual agreement.
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