Jump to content

S06.E10: Backed Into a Corner

Recommended Posts

On 12/24/2018 at 5:45 AM, MrFluffy said:

A real estate agent sells real estate and does not need to be an attorney.

Different states, different requirements.  Apparently there are states that require attorneys for real estate transactions.  The quoted statement is true as far as it goes...a real estate agent does not need to be an attorney, but.........here's just one example from a state-by-state real estate guide. 

New York

In New York, both parties must have attorneys present at closing. The Empire State has some stringent requirements on what functions a non-attorney can perform, thanks to a 2009 ruling by a New York Appellate Court.  They are not allowed to receive direct or indirect compensation for preparing deeds, mortgages, assignments, discharges, leases or any instrument that affects real estate. Furthermore, the ruling stated that even if an attorney reviews and approves the work of a non-attorney, said attorney must have supervisory authority and be involved in the day-to-day operations of the firm for that work to be valid.

  • Like 1

Share this post

Link to post

Create an account or sign in to comment

You need to be a member in order to leave a comment

Create an account

Sign up for a new account in our community. It's easy!

Register a new account

Sign in

Already have an account? Sign in here.

Sign In Now