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Can I do conveyancing without operating a trust account?

April 26, 2017account conveyancing operating Trust

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Can I do conveyancing without operating a trust account?

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Yes, you can do this by arranging to have settlement cheques made payable to your client, and have clients provide settlement and disbursement cheques. This means that you will only ever receive transit cheques and therefore no trust money is required to be banked. If you receive transit moneys you will not be required to open a general trust bank account, or have an external examination. However you are required to hold a full practising certificate authorising you to receive trust money.