Contracts
In Utah, if both parties to a purchase contract agree to cancel after the Due Diligence Deadline has passed, the earnest money disposition is determined by:
AThe Division of Real Estate
BThe terms of the contract and any mutual cancellation agreement signed by both parties✓ Correct
CThe listing broker acting alone
DA court order
Explanation
After the Due Diligence Deadline, earnest money release requires mutual written agreement by both parties or a court determination. The broker cannot release funds without proper authorization.
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