Singapore legislation
Schedule 3
of Conveyancing and Law of Property (Conveyancing) Rules 2011
Schedule 3
Terms and conditions applicable toevery conveyancing transaction
THIRD SCHEDULERule 19Terms and conditions applicable toevery conveyancing transactionOption to purchase
1. Where an option to purchase any land requires the deposit payable by a purchaser (upon exercising the option) to be held by the vendor’s solicitor as a stakeholder pending the completion of the sale and purchase of that land, that requirement shall be satisfied —
by the delivery to the vendor’s solicitor of a cheque or bank draft for the amount of the deposit and made payable to the title of the conveyancing account of the vendor’s solicitor; or[S 629/2011 wef 25/11/2011](b)by the payment of the amount of the deposit to the conveyancing account of the vendor’s solicitor by electronic fund transfer or telegraphic transfer.[S 629/2011 wef 25/11/2011]