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#16689 - Professional Conduct In Plp - Property Law and Practice

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PLP CONDUCT ISSUES

Issue	Principle	Outcomes	Indicative Behaviours
Can buyer’s solicitor also act for the seller?	4	3.5; 3.6 – general position is that they can’t due to the risk of conflict except where the parties have a substantially common interest and (a)-(d) have all been met	3.14; 3.11; 3.3; 3.4 – Acting for both is indicative of not achieving the outcome; declining to act where the interest in the end result is not the same; declining where there is a need to negotiate on matters of substance (e.g. price); declining where there is unequal bargaining power.	Substantially Common Interest – A clear common purpose regarding a matter, a strong consensus on how it is to be achieved and the client conflict is peripheral to that common purpose
Can buyer’s solicitor also act for the lender?	4	3.5; 3.6 – general position is that they can’t due to the risk of conflict except where the parties have a substantially common interest and (a)-(d) have all been met	3.3; 3.7 – should decline to act if may need to negotiate on ‘matters of substance’ on clients’ behalf (N/A if standard mortgage); definition of a standard mortgage	Solicitor could argue that O 3.6 applies – cheaper and benefits outweigh risks Definitely okay for title investigation stage but could be more difficult later
Can seller deal with more than one buyer?	2	11.3 – Seller’s solicitor must immediately inform each prospective buyer’s solicitor that the seller intends to conduct a contract race having first obtained seller’s consent to do so (to comply with O 4.1). If the seller refuses to give such consent, his solicitor must immediately cease to act in the matter.		The Code of Conduct does not prohibit contract races but sets strict rules.
Undertakings	2, 6	Avoid if possible 11.2 – Must be performed within agreed timescale of within a reasonable amount of time	11.5 – firm must have an effective system to record when they are given/discharged	Undertaking – A legal promise to (not) do something which is enforceable in court. Failure to comply is professional misconduct Binding even if it is to do something out of your control – DO NOT UNDERTAKE
SDLT reduction by increasing fixtures/fittings cost?	1, 2, 6	If a...

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#16689 - Professional Conduct In Plp - Property Law and Practice

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