Conveyance of a property - conflict of interest question.

Drop the Ball

For conveyancing of a property, if the Solicitor or Solicitors firm representing the Vendor happens to be the same as used by the Purchaser, would this be considered a conflict of interest for the solicitor? If so is it advisable for one of the parties to change solicitor/firm?

goz83

I purchased my dads home about 6 years ago. It was where i grew up. We both used the same solicitor. Was no problem in that case. I suppose it depends on the circumstances. For example; if i was the purchaser and seller happened to be the brother of my solicitor, I would prefer to use a different solicitor, if the seller was using the same solicitor.

dazza21ie

Drop the Ball wrote: »

For conveyancing of a property, if the Solicitor or Solicitors firm representing the Vendor happens to be the same as used by the Purchaser, would this be considered a conflict of interest for the solicitor? If so is it advisable for one of the parties to change solicitor/firm?

Yes and it would also be misconduct by the solicitor. A solicitor cannot act on both sides of a conveyancing transaction in most cases

Drop the Ball

dazza21ie wrote: »

Yes and it would also be misconduct by the solicitor. A solicitor cannot act on both sides of a conveyancing transaction in most cases

Thanks...

Mr. Incognito

the Law Society have issued guidelines to say a solicitor cannot act for both purchaser and vendor in a property transaction

Rabbo

Can solicitors from the same firm work on both sides of a conveyance?

nuac

Rabbo wrote: »

Can solicitors from the same firm work on both sides of a conveyance?

No

Drop the Ball

Thank you all...very helpful.