Can the same solicitor act for buyer and seller?

steampowered

aneary wrote: »

Unlikely there is a contract the contract will be written for the Son or the Mother the other will need to get independant legal advice. If the firm is large and has two solicitors to deal with this then you may be able to use the same firm but not the same solicitor otherwise there will be a conflict of interest.

Solicitors do sometimes act where there is a conflict of interest. A good example is that the same solicitor will usually act for both the mortgage lender and the purchaser in a conveyancing transaction. It can be done so long as both parties consent and the matter is unlikely to be contentious.

I would have thought it should be OK in the situation described by the Op, as the solicitor is really just documenting straightforward agreed terms.

The SRA rules state that solicitors may act where there is a conflict of interest if the following conditions are met:

"where there is a client conflict and the clients have a substantially common interest in relation to a matter or a particular aspect of it, you only act if:

(a) you have explained the relevant issues and risks to the clients and you have a reasonable belief that they understand those issues and risks;
(b) all the clients have given informed consent in writing to you acting;
(c) you are satisfied that it is reasonable for you to act for all the clients and that it is in their best interests; and
(d) you are satisfied that the benefits to the clients of you doing so outweigh the risks".

G_M

Is there a mortgage involved? Either a current one in your name, or a new one in son's name?

If not, why use a solicitor at all?

Though you might use one not for the title transfer but either

a) to draw up a Deed specifying the payments, penalties for arrears, etc and/or
b) to place a personal Charge (mortgage) on the property.

davidmcn

steampowered wrote: »

I would have thought it should be OK in the situation described by the Op, as the solicitor is really just documenting straightforward agreed terms.

I'm not sure that these are "straightforward agreed terms". At what point is title being transferred? If immediately then is the OP taking a security over the property? The son might hope that parent will trust them...or they might want more flexibility to borrow from other lenders in the future. If OP is taking a security then what conditions are attached?

So the best legal advice will be different depending on whether solicitor is acting for parent or son. Might be easier if they agree between them exactly what they want before going to solicitor.