Escrow & Title
In North Dakota, earnest money deposited with a broker is typically held in trust until:
AThe broker decides to release it
BClosing, at which point it is applied toward the purchase price, or as otherwise specified by the purchase agreement✓ Correct
CThe listing expires
DA court order releases it
Explanation
Earnest money is held in the broker's trust account until closing, when it is applied toward the purchase price. If the transaction does not close, the release of earnest money follows the terms of the purchase agreement or a mutual agreement by the parties.
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