Page 152 - IOM Law Society Rules Book

(viii) Nothing in this Rule allows an Advocate to act in breach of any other Rule or

principle of professional conduct.

AN ADVOCATE ACTING FOR SELLER AND BUYER

(a) An Advocate must not act for the seller and the buyer:

(i) without the informed written consent of both parties;

(ii) if a conflict of interest exists or arises; or

if the seller is selling or leasing as a Builder or Developer.

(b) Otherwise, an Advocate may act for the seller and the buyer, but only if;

(i) both parties have given informed written consent; or

(ii) the consideration payable to the seller for the property transferred including

any premises constructed or proposed to be constructed thereon is in the

aggregate £10,000.00 or less and the transaction is not the grant of a lease;

or

there is no other Advocate operating an office within five miles of the

Advocate's office whom either the seller or the buyer could reasonably

expect to consult; or

the seller and the buyer are represented by two separate offices, of the same

practice in different localities and with different Advocates, who normally

work at each office, conduct or supervise the transaction for the seller and

the buyer; or

(v) without prejudice to Rule 7(3) the only way in which an Advocate is acting

for the buyer is in providing Mortgage related services.

2.