Manufactured Housing Practice Test

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Within how many days after the close of escrow must a dealer submit a report of sale?

5 days
10 days
15 days
30 days

The correct answer is: 10 days

The requirement for a dealer to submit a report of sale within 10 days after the close of escrow is established to ensure timely record-keeping and compliance with regulatory standards in manufactured housing transactions. This timeframe allows for the efficient handling of paperwork and helps maintain accurate and up-to-date information regarding vehicle sales. Timely submissions are critical in preventing potential issues related to ownership transfer, taxation, and other legal obligations that may arise post-transaction. The 10-day requirement strikes a balance between adequate processing time for the dealer and the need for prompt record updates by regulatory authorities.