Our client, the vendor, has passed away after exchange of contracts and prior to settlement. Prior to his passing, the vendor had executed a valid client authorisation and undertaken a verification of identity. Is the client authorisation still valid and can we proceed to settlement with this authority? I cannot find anything in the model participation rules. Any help would be greatly appreciated. I note that the vendor held the property as trustee for the beneficiary of a bare trust. The vendor had no other assets in Australia and therefore there will be no application for probate nor any transmission application.
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