New Hampshire License Law
In NH, 'earnest money' deposited with a listing broker is considered:
AThe broker's earned commission
BClient funds held in trust until closing or contract termination✓ Correct
CThe seller's property immediately upon deposit
DLegally uncommitted funds the broker may invest
Explanation
Earnest money deposited with a broker is client funds held in trust (escrow) on behalf of the parties. The broker does not own these funds and must keep them in a separate trust account. The funds are released at closing or according to the contract's terms if the transaction fails.
Related New Hampshire New Hampshire License Law Questions
- Commingling in New Hampshire real estate refers to:
- Under NH law, a salesperson must have all contracts and agreements reviewed by:
- A NH broker who receives a complaint from a dissatisfied client should:
- A NH salesperson's license is automatically suspended if:
- Under New Hampshire license law, a licensee must notify the Commission of a change of address within:
- Which of the following persons is generally exempt from New Hampshire real estate licensing requirements?
- NHREC's disciplinary proceedings are governed by the NH Administrative Procedure Act (RSA 541-A), which means:
- A NH licensee who earns income from both real estate brokerage and property management under the same broker must:
Practice More New Hampshire Real Estate Questions
1,500+ questions covering all exam topics. Start free — no signup required.
Take the Free New Hampshire Quiz →