Monday, July 11, 2011
New rules to protect property buyers, sellers from rogue lawyers
SINGAPORE : New measures to better protect property buyers and sellers from rogue lawyers will kick in from August 1.
They are part of the Conveyancing (Miscellaneous Amendments) Bill that was passed in Parliament in April and was gazetted on July 8.
The aim is to tighten safeguards for conveyancing money held by lawyers.
Lawyers will no longer be allowed to receive and hold such money in their normal client accounts.
Instead, the money must be held in special accounts, which will be offered by banks appointed by the Ministry of Law.
More details at http://www.channelnewsasia.com
Or call the conveyancing measures hotline at 6838 1289. www.conveyancing.sg
Source : MediaCorp Pte Ltd