Humber/Ontario Real Estate Course 4 Exam Practice

In what scenario can a brokerage release a deposit without mutual consent?

1. If the buyer is confident of a property title

2. If broker of record approves the amount

3. If both sides file a joint statement

4. In no scenario

5. Only if seller's agent requests it

6. Upon direction from a notary public

The correct answer is: In no scenario

A brokerage can only release a deposit with the mutual consent of all parties involved in a transaction. This requirement is in place to ensure transparency and protect the interests of all parties, including the buyer and seller. The rules governing real estate transactions stipulate that without this mutual agreement, no funds should be disbursed to prevent potential disputes or claims. In the context of the provided options, other scenarios presented—such as the approval of the broker of record, joint statements from both sides, the seller's agent requesting it, or directions from a notary public—do not constitute sufficient grounds for the release of a deposit without the explicit agreement of all parties involved. Thus, the only correct assertion is that there is no scenario where a brokerage can unilaterally release a deposit without this consensus.