THIRD SCHEDULE
Rule 19
Terms and conditions applicable to
every conveyancing transaction
Option 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 —
(a)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]