Escrow & Title
A Nebraska broker who receives earnest money must deposit it in their trust account no later than:
A7 days after receipt
BThe banking day following receipt, unless the contract specifies otherwise✓ Correct
C30 days after the purchase agreement is signed
DAt the time of closing only
Explanation
Nebraska's trust account rules generally require earnest money to be deposited in the broker's trust account by the next banking day after receipt, unless the parties have agreed in writing to a different arrangement.
Related Nebraska Escrow & Title Questions
- A special warranty deed in Nebraska provides a warranty that the grantor:
- A Nebraska survey performed to establish property boundaries is called a:
- A Nebraska property that has a 'tax deed' issued against it means:
- Nebraska's requirement that all deed transfers be witnessed (acknowledged) before a notary before recording serves to:
- A Nebraska title insurance commitment is issued by the title company to:
- An abstract attorney in Nebraska reviews the title abstract to:
- Nebraska's 'marketable title' standard means that a title must be:
- A Nebraska property is subject to a mechanics' lien filed after a general warranty deed was recorded. Under Nebraska's recording act, the grantee:
Practice More Nebraska Real Estate Questions
1,500+ questions covering all exam topics. Start free — no signup required.
Take the Free Nebraska Quiz →