Arkansas Real Estate Practice Exam

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What is required for the disbursement of trust funds upon the rejection or withdrawal at the closing of a transaction?

  1. A written request from the buyer or seller

  2. An official closing statement

  3. Securing a written agreement signed by all parties interested in the trust funds

  4. No special requirements if at transaction closing

The correct answer is: Securing a written agreement signed by all parties interested in the trust funds

In order to disburse trust funds upon the rejection or withdrawal of a transaction at closing, a written agreement signed by all parties involved is required. This ensures that all parties are in agreement about the disbursement and protects against any potential disputes. Options A and B alone do not provide enough assurance that all parties are in agreement, while option D is incorrect as there are special requirements in this scenario.

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