Latest news with #propertypurchase
Times
23-05-2025
- Business
- Times
Are my property purchase completion funds protected?
Q. We have to pay £400,000 to solicitors to complete the purchase of a property. Is it protected in the same way as money deposited with a bank? A. Solicitors operate two separate kinds of bank accounts: an 'office' account and a 'client' account. Rule 2.3 of the Solicitors Regulation Authority Accounts Rules requires them to pay any money received from clients into the designated client account. Any mixing of these moneys is a serious breach of professional ethics and will result in disciplinary action. It has long been recognised that money in a client account is held by the solicitors on trust. For example, in the 2002 case of Twinsectra v Yardley, the House of Lords said that cash paid for a
CTV News
21-05-2025
- Business
- CTV News
Glen Elm mobile homeowners make another purchase offer
Regina Watch WATCH: A group of residents of the Glen Elm Mobile Home community have made another offer to purchase the property. Jacob Carr reports.
