Arkansas Real Estate Practice Exam

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Get ready to ace your Arkansas Real Estate Exam. Use our engaging quizzes with flashcards and multiple choice questions to enhance your study experience. Prepare effectively by testing your knowledge and understanding of Arkansas real estate laws and practices!

Each practice test/flash card set has 50 randomly selected questions from a bank of over 500. You'll get a new set of questions each time!

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Under which circumstance can trust funds be disbursed upon disagreement among parties?

Upon securing a written agreement from all interested parties
Upon the broker's discretion
Upon the filing of an interpleader action in court
Without notifying all parties

The correct answer is: Upon the filing of an interpleader action in court

While trust funds can typically only be disbursed upon mutual agreement among parties, in cases where there is a disagreement, an interpleader action can be filed in court to resolve the issue. This allows for a neutral third party (usually the court) to make a decision on how the trust funds should be distributed. Option A is incorrect because it assumes that all parties would be willing to provide written agreement, which may not always be the case in a disagreement. Option B is incorrect because it gives the broker too much power and could potentially lead to a misuse of trust funds. Option D is incorrect because it goes against the principle of trust funds being disbursed in a fair and transparent manner. The best course of action in disagreements regarding trust funds is to file an interpleader action in court.