What requirement must be fulfilled when placing a deposit with a title company or attorney?

When placing a deposit with a title company or attorney, providing the licensee's name is a crucial requirement because it ensures accountability and proper documentation for the transaction. This helps to establish a clear chain of responsibility regarding the handling of the deposit, allowing for tracking and validation of the funds within the context of the real estate transaction.

In real estate practice, the involvement of a licensed professional is essential for compliance with regulations and industry standards. It guarantees that the transaction is conducted legally and ethically, protecting both the buyer's and seller's interests throughout the process.

Other options, while they may involve different aspects of real estate transactions, do not present legal or procedural necessities for the deposit process as directly related to maintaining clear documentation and accountability. For example, while buyer presence or confirmation from the seller can be beneficial or expected in certain situations, they are not universally required when it comes to depositing funds with a title company or attorney. Approval from the real estate board is not necessary for this specific action, as the requirement is more focused on having a licensed professional involved in the transaction.