Victorian Current Acts

CONVEYANCERS ACT 2006 - SECT 77

    (1)     A licensee may do any of the following, in relation to trust money held in a general trust account or controlled money account for a person—

        (a)     exercise a lien, including a general retaining lien, for the amount of costs reasonably due and owing by the person to the licensee;

        (b)     withdraw money for payment to the licensee's account for costs owing to the licensee if the relevant procedures or requirements prescribed by this Act and the regulations are complied with;

        (c)     after deducting any costs properly owing to the licensee, deal with the balance as unclaimed money under the Unclaimed Moneys Act 1962 .

    (2)     Subject to this section, subsection (1) applies despite any other provision of this Part.

    (3)     A lien referred to in subsection (1)(a)—

        (a)     may not be exercised for an amount in excess of the sum of the costs and unpaid disbursements; and

        (b)     may not be exercised unless—

              (i)     the licensee has disclosed to the client, in accordance with Division 1 of Part 4, the costs of the conveyancing work that the licensee has been carrying out, and is yet to carry out, for the client; or

              (ii)     if disclosure is not required to be made under Division 1 of Part 4, the licensee has served an invoice for those costs and disbursements on the client.