There seems to be some confusion amongst the wider public regarding the new Conveyancing Conflicts of Interest Regulation which will come into force on the 1 January 2013. Essentially the same Solicitor or firm of Conveyancing Solicitors will be prohibited from acting for both vendor and purchaser in a conveyancing transaction.
The rationale behind this is not to create more work or fees for Conveyancing Solicitors. It is to protect in the first instance Elderly Clients and Conveyancing Solicitors in the second instance from any issue of Undue Influence being claimed. There has been a lot of litigation in the last few years surrounding these transactions which is obviously in no-one’s interest.
Healy O’Connor Conveyancing Solicitors, Cork and Dublin