Holding funds on behalf of a Vendor's Conveyancer as a source fund
We act for a Purchaser and have been requested by the Vendor's Conveyancer that they require the deposit funds held by the Agent for settlement. The Vendor's Conveyancer does not hold a trust account. The Vendor's Conveyancer has requested the Agent release funds to our trust account for settlement. We believe we are unable to load source funds on behalf of a Vendor in whom we do not act for. Would it be a requirement to have a client authorisation signed to deal with their funds in the trust account and we are able to load funds. Has anyone had this request and what was the response?