Disbursement pursuant to written agreement of trust funds where purchase agreement does not close.

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36-21A-81. Disbursement pursuant to written agreement of trust funds where purchase agreement does not close.

If an accepted offer and agreement to purchase does not close, a broker may not disburse any funds held in trust, relative to such real estate transaction, except pursuant to a written instruction of all parties to the transaction or pursuant to a court order.

Source: SL 1992, ch 273, §81; SL 1996, ch 236, §7.


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