Legal Question in Real Estate Law in Virginia

A to contractttorney's responsibility to disclose when a principal

We have a situation where it has come to light that an attorney was a principal in a real estate contract. He was acting as his own real estate agent and real estate lawyer in the transaction. Does the attorney have any regulatory or ethical requirement to disclose his function as a real estate lawyer and a real estate agent in the contract or by some other written instrument?


Asked on 3/24/05, 4:20 pm

1 Answer from Attorneys
Michael Hendrickson Law Office Michael E. Hendrickson

Re: A to contractttorney's responsibility to disclose when a principal

No, there is no such requirement that I am personally aware of. Such facts(in my view) would only acquire importance if in the course of the transaction the lawyer/agent were to commit fraud,

misrepresentation or some other kind of malfeasance with respect to or against the other party(ies)to the transaction, and if such were in fact so determined by a court of law this person might well suffer greater penalties as a result of the court holding him or her to a higher standard(and therefore subject to a greater sanction or penalty) for having not only committed a crime but grossly breached her/his professional ethics.

Read more
Answered on 3/24/05, 5:36 pm


Related Questions & Answers

More Real Estate and Real Property questions and answers in Virginia