The attorney can, as a stakeholder retain the interest on the deposit as due reward for looking after the same. However now a days this interest on the deposit is governed by the Solicitor’s Accounts Rules, 1991. The seller is entitled to the interest when the deposit is held by the solicitor as the agent but where the deposit is held as stakeholder, the seller is only entitled to the accrued interest. If the purchaser rescinds as a result of default on behalf of the seller, then the purchaser is entitled to recover the deposit with the accrued interest.
