There are naturally times when you don’t want to execute a mutual release but you are prepared to return the deposit.
All you need is a Direction, and this is what the wording would look like:
To: Stakeholder
Re: 123 Main St.
I authorize and direct you to pay and transfer the deposit to the Buyer.
This shall be your good and sufficient authority for so doing.
Dated at Toronto this 9th day of March 2023
_______________
Seller
OR, alternatively:
To: Stakeholder
Re: 123 Main St.
I authorize and direct you to pay and transfer the deposit to the Seller.
This shall be your good and sufficient authority for so doing.
Dated at Toronto this 9th day of March 2023
_______________
Buyer
Brian Madigan LL.B., Broker