Maine License Law
A Maine broker who receives multiple earnest money deposits on the same property must:
APlace all deposits in the same trust account and keep accurate records of each✓ Correct
BReturn all deposits except the one from the accepted offer
CApply all deposits toward the purchase price
DTransfer excess deposits to the seller immediately
Explanation
All earnest money deposits must be held in the broker's trust account with accurate records identifying each deposit. When one offer is accepted and others are rejected, the deposits for rejected offers are returned to those buyers.
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