A licensee who opens a trust account must provide the authorised deposit-taking institution (bank) with a unique identifying number (UID) given by NSW Fair ...

23 авг. 2024 г. · Find out how to open or close a property trust account, register an existing trust account, or access a closed trust account.

Who can operate a trust account? A general trust account must be operated by the principal of a law practice who is authorised to receive trust money.

Trust money is the money a law practice holds on behalf of a client or other people in the course of, or in connection with, the provision of legal services.

Real estate agencies in NSW are obligated to open and maintain trust accounts for handling all financial transactions related to property management and sales.

Trust accounts must be kept at an authorised deposit-taking institution in New South Wales. · The deposit-taking institution needs to be notified in writing that ...

A law practice is required to have its trust records externally examined once in each financial year if it has received or held trust money, excluding transit ...

Statutory Trust Account ... A specialised bank account tailored for legal practitioners, real estate agents, auctioneers, conveyancers and settlement agencies.

12 мар. 2024 г. · Trust accounts serve as a safeguard for funds related to property transactions. Real estate agents and agencies can manage the property ...