Determine whether it involves "Trust money", as defined by the Conveyancers Act 2006, or is simply an office receipt or payment.Received a cheque for $600,000 representing the proceeds from sale of a client's home which is to be used to purchase another property on behalf of your client and is payable to the vendor of the property your client is purchasing.

Answer rating: 100% (QA)

Based on the information provided the situation involves Trust money as defined by the Conveyancers ... View the full answer