Alberta Real Estate Licensing Exam Practice · Question
When can a real estate professional release trust funds without specific written authorization from all parties?
Trust funds can only be disbursed according to the terms of the agreement, mutual written consent, or a court order.
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Question: When can a real estate professional release trust funds without specific written authorization from all parties?
Answer options:
- After the conditions precedent in the purchase contract have been satisfied.
- Upon mutual written agreement of all parties. ✅ Upon an order from a court of competent jurisdiction.
- When the professional decides it's appropriate.
Correct answer: Upon an order from a court of competent jurisdiction.
Explanation: Trust funds can only be disbursed according to the terms of the agreement, mutual written consent, or a court order.
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