Can a solicitor hold money for you?
Asked by: Melisa Stracke | Last update: February 9, 2026Score: 4.4/5 (57 votes)
Yes, a solicitor can hold money for you in a client account (a special, protected account) as part of their professional services, such as for property transactions, inheritance funds, or settlement proceeds, but they must follow strict rules to manage it responsibly and release it promptly, not use it as a personal bank, and only hold it for legitimate reasons like covering fees or waiting for necessary steps to complete. They can hold funds for a reasonable time to finalize a transaction or dispute, but prolonged holding, especially for simple disbursement, is generally not allowed and may require reporting to the Solicitors Regulation Authority (SRA).
How long can a solicitor hold money?
Solicitors must comply with Law Society rules that prevent them from acting as bankers by holding client money only as necessary. There is no fixed statutory time limit, but funds should be promptly handled and disbursed according to the client's instructions or legal requirements.
Can a solicitor refuse to release funds?
Therefore, all firms must adhere to high standards of practice and comply with rules and regulations. If you believe that your solicitor is not returning money that rightfully belongs to you, it is imperative that you email your complaint to the senior partner in the firm through resolver.
Is your money protected with a solicitor?
The SRA Code of Conduct for Solicitors, RELs and RFLs requires solicitors to keep client money and assets safe. Your practice should have systems in place to do this.
How long can a lawyer hold your money?
Your lawyer must disburse your settlement funds to you within a “reasonable” time. Typically, this means within 30 to 45 days of the date that you sign the settlement agreement. The “30 to 45 days” figure is just a ballpark estimate. The timing could vary based on the specific facts of your case.
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Can a lawyer keep your settlement money?
In California, this is backed by professional conduct rules. Your lawyer will need to let you know when the money has been acquired and will then have to distribute your share without unnecessary delay.
What is the 14 day rule for solicitors accounts?
Rule 18.3 permits such receipts to be placed into a client account in its entirety, but all office and/or out-of-scope money must be transferred out of the client account into the office account within 14 days of receipt. A breach of the rule occurs when this 14-day time span is exceeded.
How do I get my money back from a solicitor?
You must apply to the court before asking for a detailed assessment. You must do this within one month of getting your solicitor's bill. If you do not, you can still apply within a year of getting the bill, but the court might ask you to pay part or all of what you owe upfront.
What can a solicitor not do?
Code of Conduct for Solicitors, RELs, RFLs and RSLs
- You do not unfairly discriminate by allowing your personal views to affect your professional relationships and the way in which you provide your services.
- You do not abuse your position by taking unfair advantage of clients or others.
Should I trust my solicitor?
Trust, Experience, and Communication
It's vital to appoint a solicitor you can trust—someone with the experience to handle your transaction efficiently and at a fair price. A reliable solicitor will act in your best interests and ensure the process runs as smoothly as possible.
What happens if you ignore a solicitor?
You may wish to ignore the letter. However, it would be wise not to ignore letters from a solicitor as this can result in unnecessary Court Proceedings being issued which you then need to defend without a choice. Instead, you should seek independent legal advice as soon as possible.
How to scare off solicitors?
Post No Soliciting Signs: The simplest way to deter solicitors is by placing No Soliciting signs in highly visible locations such as gates, front doors, or windows. Make sure these signs are easy to read and located where solicitors are likely to see them upon approaching your property.
Who is more powerful, an attorney or a lawyer?
An attorney has more specific authority than a general lawyer because an attorney is licensed to practice law and represent clients in court, while a lawyer, though educated in law, might not have passed the bar exam to gain that courtroom authority. It's not about "power" but legal authorization; all attorneys are lawyers (having law degrees), but not all lawyers are attorneys. For court appearances, you need an attorney; for legal advice or document prep, a lawyer might suffice.
How long does it take for solicitors to release funds?
What is the usual time frame between signing my paperwork and receiving my money. If everything is straightforward, this should be within a week or two, provided your solicitor has sent the bundle of signed documents to the lender's solicitor upon receipt.
What to do if solicitors are taking too long?
Contact Your Estate Agent
The estate agent has access to both solicitors, meaning they will have updates on the purchase. They can also apply pressure when needed as they have a financial incentive for the transaction going through. Your estate agent can be a valuable ally in speeding up the conveyancing process.
What is the rule 7 in solicitors accounts?
Rule 7: Payment of interest
You account to clients or third parties for a fair sum of interest on any client money held by you on their behalf.
What are the disadvantages of using a solicitor?
One of a few downsides to getting a solicitor to negotiate your financial settlement on your behalf is expense. Depending on your situation, negotiations can take a long time. As most solicitors charge by the hour this can end up running into a large bill.
What is the B word for lawyer?
The "B word" for a lawyer, especially in the UK and Commonwealth countries, is Barrister, which refers to a specialist lawyer who argues cases in higher courts, distinct from a solicitor, though other terms like Attorney, Counsel, or even the pejorative "ambulance chaser" can be used, while "Esquire" (Esq.) is a title for any licensed lawyer in the U.S.
Can I refuse to pay a solicitor?
If a client refuses to pay monies owed to a solicitor, the solicitor is still entitled to seek recovery of their Costs, see Practice Note: Solicitor and client costs—rights of solicitors (liens, charges and recovery of costs).
Can solicitors withhold money?
The note begins by exploring the concept of a solicitor's lien, a well-established common law right allowing solicitors to retain a client's property, documents, or funds until outstanding fees are paid.
How do you ask for your money back from a lawyer?
It may be possible to bring your former lawyer to court to recover the money you have already paid. In addition, you may also be able to call the state bar in your area, explain your concerns, and ask them if there are any specific rules that govern legal fees in your state.
Is my money safe with a solicitor?
Proof of funds must be provided and verified as part of the anti-money laundering checks. Your solicitor will conduct these checks at the beginning of the conveyancing process. This will prove that the funds you are using are safe and legitimate.
Do solicitors have a time limit?
Different time limits apply to different types of cases and legal processes: Civil claims usually need to be served within six years. Conveyancing is usually completed within eight weeks and online conveyancing is often faster.
How to keep solicitors away?
No soliciting signs are essential tools for maintaining personal and business space by deterring unwanted interactions from solicitors, which include door-to-door salespeople, fundraisers, political canvassers, and religious groups.
What are the solicitors account rules for client money?
The Solicitors Account Rules require us to account to our clients, on a fair and reasonable basis, for a sum in lieu of interest in respect of client monies held by the firm.