Monday, 5 July 2021
On whose authority can a law practice disburse trust money?
In our regular in-depth ethics case study, Professional Standards Manager Rob Reis discusses a recent case.
When acting for a client who is purchasing property or a business in circumstances where there is no listing or selling agent, and the seller is self-represented, ensure that if there is a deposit paid into the trust account of the buyer’s solicitor (i.e. your law practice trust account), that there are dedicated special conditions dealing with the disbursement of those funds on settlement of the contract.
From the Winter 2021 edition of Ethos.