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Real Estate Law

Started by ridgehill
almost 14 years ago
Posts: 3
Member since: May 2012
Discussion about
Is it common practice that a real estate lawyer serve as an agent for both, the purchaser (acquiring title insurance/representing purchaser in real estate transaction) and the title insurance company (attorney being compensated by SAME title company to examine the title, issue title commitment etc..)? Thanks for you help.
Response by rb345
almost 14 years ago
Posts: 1273
Member since: Jun 2009

Sounds like an overt impermissible conflict of interest. Tirle companies try and
stick buyers with risks that an unconflicted attorney would never agree to.

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Response by ridgehill
almost 14 years ago
Posts: 3
Member since: May 2012

Thank you, rb.

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Response by kylewest
almost 14 years ago
Posts: 4455
Member since: Aug 2007

Not in NY

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Response by jnnj
almost 14 years ago
Posts: 46
Member since: May 2009

Not common, but there are re lawyers who simultaneously own/operate title companies and/or act as an agent for title compaies at a closing - it not a huge deal, since the interests are aligned and the goal is to insure that good/marketable title is transferred - not much money is made on the actual work, the money is made on the premium

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