Legal Question in Real Estate Law in Virginia
Liquidating Property While Under Indictment
As a real estate broker I hsve been asked to represent a party in the sale of real estate. This party is currently under a Federal indictment for a serious crime. Should my firm be involved with this at any level? If so, what is our liability? Should we make the US Attorney that is prosecuting the case aware of our involvement. Does a law exist that specifically prevents someone under indictment from liquidating real property.
1 Answer from Attorneys
Re: Liquidating Property While Under Indictment
Asked by whom, the defendant under indictment?
If so, how do you know that this property may not be subject to federal forfeiture laws or other federal process which would prevent its sale and possibly subject those attempting to
liquidate it without permission of the appropriate federal authorities to some kind of federal charge or sanction?
Before you proceed any further with any steps to sell or otherwise dispose of this property, I would suggest that you expeditiously notify the federal prosecutors who are responsible for prosecuting the person(s) who are under indictment and who ostensibly appear to be the owners of this property.
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