Escrow & Title
Earnest money held in a broker's trust account in NC belongs to:
AThe listing broker until closing
BThe buyer until the contract is accepted
CThe principals per the contract terms, not the broker✓ Correct
DThe seller immediately upon contract execution
Explanation
Earnest money deposited in a broker's trust account belongs to the principals per the contract terms. The broker holds it as a fiduciary and may not use it for personal purposes.
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