Escrow & Title
In Kansas, earnest money deposited into an escrow account belongs to:
AThe listing broker until closing
BThe seller immediately upon acceptance
CThe parties per the terms of the purchase agreement✓ Correct
DThe escrow company until the transaction closes
Explanation
Earnest money held in escrow belongs to the parties as defined by the purchase agreement. The escrow holder maintains it in trust until the contract terms are met or the dispute is resolved.
Related Kansas Escrow & Title Questions
- In Kansas, a sheriff's deed is issued to:
- In Kansas, a 'trustee's deed' is used to convey property:
- In Kansas, a 'deed of trust' used in some transactions differs from a mortgage in that a deed of trust involves:
- In Kansas, a title company that discovers a 'gap' in the chain of title during a search may require the buyer to:
- At closing in Kansas, proration of property taxes means:
- In Kansas, an 'IRS Form 8300' report is required in real estate when:
- What is a 'lis pendens' in Kansas real estate?
- In Kansas, a buyer's lender requires a lender's title insurance policy. Who typically pays for this policy?
Practice More Kansas Real Estate Questions
1,500+ questions covering all exam topics. Start free — no signup required.
Take the Free Kansas Quiz →