Humber/Ontario Real Estate Course 2 Exam Practice

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Which document must be incorporated to provide mutual consent for a deposit release?

  1. A mutual release form.

  2. An amendment to the purchase agreement.

  3. A new deposit agreement.

  4. An initial sales contract.

  5. A separate escrow agreement.

  6. A final closing statement.

The correct answer is: A mutual release form.

In order to provide mutual consent for the release of a deposit, a mutual release form must be incorporated. This form is essential to document the agreement between the parties involved regarding the release of the deposit. Options B, C, D, E, and F are incorrect as they do not specifically address the need for a mutual release form to provide mutual consent for a deposit release. While these documents may be used in real estate transactions for other purposes, they do not serve the specific function required for the release of a deposit.

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