of the transaction, or in the case of a terms contract any moneys received by the vendor or on behalf of the vendor before the purchaser becomes entitled to possession or to the receipt of rent and profits pursuant to the contract; has the same meaning as in section 4 estate agent S. 23 def. of estate agent of the Estate Agents Act 1980; amended by No. 11/2002 s. 3(Sch. 1 item 58). * * * * * S. 23 def. of solicitor repealed by No. 35/1996 s. 453(Sch. 1 item 73.4). 24 Deposit moneys held by legal practitioner, S. 24 (Heading) conveyancer or estate agent to be held as inserted by stakeholder No. 75/2006 s. 192(Sch. 2 item 5.3). New s. 24 inserted by No. 9423 s. 2(2). (1) Any deposit moneys received by a legal S. 24(1) amended by practitioner, conveyancer or estate agent in the Nos 35/1996 course of a transaction for the sale of land shall s. 453(Sch. 1 item 73.5(a)), be held by that legal practitioner, conveyancer or 75/2006 estate agent as a stakeholder until— s. 192(Sch. 2 item 5.4). (a) in the case of a cash transaction, the purchaser becomes entitled to a transfer or conveyance of the land; or (b) in the case of a terms contract, the purchaser becomes entitled to possession or to the receipt of rents and profits— at which time the deposit moneys may be paid to the vendor in his own right or as the vendor directs.
of the transaction, or in the case of a terms contract any moneys received by the vendor or on behalf of the vendor before the purchaser becomes entitled to possession or to the receipt of rent and profits pursuant to the contract; S. 23 def. of estate agent amended by No. 11/2002 s. 3(Sch. 1 item 58). estate agent has the same meaning as in section 4 of the Estate Agents Act 1980; S. 23 def. of solicitor repealed by No. 35/1996 s. 453(Sch. 1 item 73.4). * * * * * S. 24 (Heading) inserted by No. 75/2006 s. 192(Sch. 2 item 5.3). New s. 24 inserted by No. 9423 s. 2(2). 24 Deposit moneys held by legal practitioner, conveyancer or estate agent to be held as stakeholder S. 24(1) amended by Nos 35/1996 s. 453(Sch. 1 item 73.5(a)), 75/2006 s. 192(Sch. 2 item 5.4). (1) Any deposit moneys received by a legal practitioner, conveyancer or estate agent in the course of a transaction for the sale of land shall be held by that legal practitioner, conveyancer or estate agent as a stakeholder until— (a) in the case of a cash transaction, the purchaser becomes entitled to a transfer or conveyance of the land; or (b) in the case of a terms contract, the purchaser becomes entitled to possession or to the receipt of rents and profits— at which time the deposit moneys may be paid to the vendor in his own right or as the vendor directs.
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