| Commentary

18 Dealings with clients’ money

| Commentary

18 Dealings with clients’ money

‘Clients’ money’1 received in the course of estate agency work is held on trust for the person who is entitled to call for it to be paid over to him or to be paid on his direction or to have it otherwise credited to him, or, if it is received by an agent as a stakeholder, it is held on trust for the person who may become so entitled on the occurrence of the event against which the money is held2.

Regulations provide for clients’ money to be kept in a separate account3, for restricting payments

To continue reading
View the latest version of this document, as well as thousands of others like it, sign in to LexisLibrary or register for a free trial