Unclaimed Trust Fund
Lawyers and paralegals often hold money in trust for their clients. For example, when working on the purchase of a home, the lawyer will hold funds to cover the purchase amount, plus other incidental fees like filing charges, in their trust accounts.
At all times, these funds are the property of the client. Most will be paid out to others to complete the transaction, and some will go to the legal professional to pay their fees.
At the end of the transaction, there may be funds left which should be returned to the client.
Sometimes, at the end of a case or a transaction, the lawyer or paralegal cannot find their client in order to return the funds. If they can’t find the client for a period of two years, they can, with the approval of the Law Society, transfer those funds to the Law Society.
The Law Society holds the money so that they can return it to those who are entitled to receive it.
If you believe that you are entitled to the return of trust money, please complete the Claimant Application Form online.