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Family deal-2 solicitors needed?

Hi I have one quetion, I'm buying a shop from my dad, is that possible we deal with only one solicitor, rather we both paying double 2 two people? Rami

It is possible but most Solicitors will not act for both parties, based on the simple rule that “you cannot serve two masters”. 

This listener as a buyer needs separate and independent legal advice on the title and on the business itself being bought. There will have be tax advice given and this may be in direct conflict with the father’s tax liability (if any). Equally, the Solicitor will also have to deal with the bank or building society or whoever is going to provide the finance on the property and this will require them representing this listener independently without being obliged to the other party.

The whole purpose of getting legal advice is to know that the Solicitor is on your side and that there are no conflicts of interest.  That is the purpose of the rule.

Given that this listener will be presenting this transaction to their legal advisors as a “done deal” fully negotiated, I think the cost would only be around one and a half times (or less) the normal cost and not double as the Rami fears.

The issues raised in the answer to this NewsTalk listener's question are dealt with in a general way as can only be the case on live radio. Before relying on the advice given in this answer, whether you heard the broadcast or are for the first time reading the issues here please do not rely on the broad advice given. For a detailed professional opinion please consult a qualified legal advisor and for further details read our disclaimer on the Home Page.

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