Wyoming License Law
Under Wyoming license law, 'earnest money disputes' between buyer and seller that the broker cannot resolve should be handled by:
AThe broker deciding who gets the money
BFiling an interpleader action with the court, or following the dispute resolution process in the purchase agreement✓ Correct
CAutomatically returning the money to the buyer
DRetaining the money until both parties agree
Explanation
When a buyer and seller dispute earnest money and cannot agree, the broker should not release the funds to either party without authorization. The proper course is often to file an interpleader action (asking the court to decide) or follow the dispute resolution procedures specified in the purchase agreement.
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