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Florida Real Estate Exam

Category - Florida

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If both buyer and seller claim the earnest money deposit in a broker escrow account, how much time after the last claim received does the broker have to notify FREC in writing?

Five calendar days
Fifteen business days
Seven calendar days
Thirty business days

Explanation

Answer B - If a broker receives conflicting demands on escrowed property, the BROKER must notify the FREC, in writing, within fifteen business days of the party's last demand.

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