Escrow & Title
In New Jersey, who typically holds the earnest money deposit in escrow during a residential transaction?
AThe buyer's bank
BThe listing broker or the buyer's attorney✓ Correct
CThe title company only
DThe NJREC
Explanation
In NJ, the earnest money is typically held in the listing broker's escrow account or by the buyer's attorney until closing or another agreed-upon disposition.
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