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Can I/ my conveyancing business use a solicitor’s trust account rather than open one of our own?

April 26, 2017account Business conveyancing Solicitor Trust

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Can I/ my conveyancing business use a solicitor’s trust account rather than open one of our own?

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No, if you are receiving trust monies – which is money entrusted to you in the course of or in connection with the carrying out of conveyancing work, including on account of fees from your clients – you have to operate your own trust accounts.