Who must deal with the deposits received in a real estate transaction?

In a real estate transaction, it is the responsibility of the salesperson's employing broker to handle the deposits received. This is because brokers are licensed professionals who have the fiduciary duty to manage and protect client funds. They are required to maintain trust accounts or escrow accounts specifically for this purpose, ensuring that all deposits are properly recorded and safeguarded until the transaction is finalized or the parties agree otherwise.

Brokers also provide a layer of oversight and professionalism, ensuring that deposits are handled in accordance with state laws and regulations. This reduces the risk of mismanagement of funds, which could have legal consequences for both buyers and sellers. Salespersons are typically working under the brokerage's supervision and do not independently handle client funds.

The other individuals listed, such as the buyer, tenant, and notary public, do not have the responsibility to manage deposits in the same formal and regulatory capacity as the broker does. The buyer and tenant may provide the deposit, but once made, the handling falls to the broker. Meanwhile, a notary public's role is limited to witnessing signatures and authenticating documents, rather than managing transaction funds.