Q&A: Who Can Access the NSW Strata Trust Account?
In the case of sole trader Strata Managers (one person), how does the Executive Committee gain access to the Strata Trust Account if their strata manager passes away?
In brief, the Unclaimed Money Act 1995 (the Act) now applies to unclaimed money held in a trust account under the Property, Stock and Business Agents Act 2002. The Office of Fair Trading no longer administers deceased licensee’s trust accounts, but rather the Office of State Revenue.
Read the full question, and our response here.
