Legal Question in Real Estate Law in New York
Realestate
Can an attorney who is the broker of record on a realestate company, represent the buyer or seller who are clients of the realestate company.
Asked on 3/11/09, 5:11 pm
1 Answer from Attorneys
Re: Realestate
Nope.
Attorneys cannot represent clients when the attorney has a financial stake in the outcome of a business transaction.
Plus there's a conflict of interest. Part of the job of an attorney in a real estate deal is to advise a client to walk away if the circumstances demand it. An attorney would be less inclined to do so if he or she would lose a broker's commission.
J. Douglas Barics
Answered on 3/11/09, 5:40 pm
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