How do you apply for a trust account exemption if you are an existing property practitioner who does not need a trust account and does not want to mandate a payment processing agent?

The Property Practitioners Regulatory Authority (PPRA)
The Property Practitioners Regulatory Authority (PPRA) primary mandate includes, among others, regulating the affairs of all property practitioners; allowing for transformation in the property sector and to ensure consumer protection against undesirable practices and conduct of property practitioners.

1. Disburse all the trust money in your trust account, if any, and close the trust account;

2. Request your auditor to audit the winding up process, and submit a winding up audit report online on the Auditors Portal

3. Complete the Affidavit as per the format prescribed in Regulation 2 of the Property Practitioners Regulations, and have it signed and stamped by a Commissioner of Oaths;

4. Email the signed Affidavit and the bank letters confirming the closure of trust accounts to;

5. You will receive a trust account exemption letter from the email address and your trust account exemption will be effective from the date on that letter and from that date your auditor is not required to submit an audit report on trust accounts

Real Estate Tools
Get pre-qualified
Make offers with confidence knowing what you can afford. Then shop for the best home loan
Bond Calculator
Calculate the estimated repayments on a home loan and savings with extra payments