Contracts
In Indiana, earnest money in a real estate transaction is typically held by:
AThe listing agent personally
BThe seller until closing
CThe broker in a separate escrow account✓ Correct
DThe title company exclusively
Explanation
In Indiana, earnest money is held by the listing broker or sometimes the title company in a separate escrow or trust account and is not commingled with the broker's operating funds.
Related Indiana Contracts Questions
- The doctrine of impossibility in Indiana contract law may excuse a party's performance when:
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