Effective from 2 Jun 2020:
- From 2.30pm to 4.30pm at the Stakeholding Counter, by appointment only. Please make an appointment here.
- Must be submitted in PDF format to [email protected]. Hardcopy submissions will not be accepted. Please refer to Conveyancing Money Service Circular 2/2020 for more details.
- Please refer to Conveyancing Money Service Circular 2/2020 for more details.
SAL holds conveyancing money for the purposes of the Conveyancing and Law of Property (Conveyancing) Rules 2011. We serve as an independent depository to both buyer and seller in place of a law firm’s Conveyancing Account.
- Stakeholding Deposits
Payment in of the stakeholding deposit into any one of the SAL's designated bank accounts should be accompanied by the Pay-In Form, sent directly to the SAL.
- Conveyancing money (other than stakeholding deposits) (i.e. Purchaser's or Vendor's money to be used for the settlement of the Sale and Purchase of the property concern)
Parties may make use of this service to pay in conveyancing moneys (other than stakeholding deposit) in advance of completion date. Payment may be made directly to any one of the SAL's designated bank accounts in the local banks. Payment should be accompanied by the Pay-In Form, sent directly to SAL.
Payment out to Category A payees will require only the signature of the party who chooses to deposit the conveyancing money with the SAL.
- Singapore Academy of Law (Conveyancing Money) Rules 2011, please click .
- Conveyancing and Law of Property (Conveyancing) Rules 2011, please click .
All payment out by the SAL will be on the following modes of payment:
- Cashier’s order for payments to discharging mortgagees;
- SAL cheques for all other categories of payees.
- Difference between opening a conveyancing ("CVY") account with an Appointed Bank and using SAL's services