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Unclaimed trust money - Conveyancers 

Conveyancer trust accounts

The information on this page relates only to the unclaimed trust money statements that need to be completed by conveyancers.

Information about unclaimed trust money statements that need to be completed by licensees under the Property, Stock and Business Agents Act 2002 is on the Unclaimed trust money - property, stock and business agents page.

Unclaimed money statement under section 62(1)

Licensees must report to Fair Trading in January each year the details of any money which has been held in a trust account for more than 2 years and has not been claimed.

The requirement to prepare an unclaimed money statement is set out under section 62(1) of the Conveyancers Licensing Act 2003.

If unclaimed money is held in a licensee's trust account in January and this money was received more than 2 years previously, the licensee must prepare an unclaimed money statement. The statement, which must be completed by the licensee in January and received by NSW Fair Trading in the same month, must be in the form approved by the Director–General.

Download the approved Unclaimed money statement under section 62(1) in PDF format (size: 107kb). The explanatory notes at the end of the form provide further information.

Statement under section 63(1)

Any money held in a trust account by a person who is no longer a licencee or is the personal representative of a deceased licencee must report those details to Fair Trading.

The requirement to prepare a statement under these circumstances is set out under section 63(1) of the Conveyancers Licensing Act 2003.

This statement must be received by Fair Trading within 3 months of the person ceasing to be a licencee or becoming the personal representative of a deceased licensee, and needs to be in the form approved by the Director-General.

Download the approved form for the Statement of trust money held by a former licensee or personal representative of a deceased licensee under section 63(1) in PDF format (size: 106kb). The explanatory notes at the end of the form provide further information.

Unclaimed money statement under section 63(3)

Twelve months after making a statement under section 63(1), a person who has ceased to be a licencee or is the personal representative of a deceased licencee, must report to Fair Trading the details of any unclaimed money held in a trust account.

The requirement to prepare a statement under these circumstances is set out under section 63(3) of the Conveyancers Licensing Act 2003.

The statement must be in the form approved by the Director-General and needs to be received by Fair Trading within 14 days after 12 months has passed since making a statement under section 63(1), and needs to be in the form approved by the Director-General.

Download the approved form for the Unclaimed money statement under section 63(3) in PDF format (size: 109kb). The explanatory notes at the end of the form provide further information.

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