Who is an approved attorney? Kiritsis Law Group 212 922 0005

May 13, 2021

By: John Kiritsis, Esq., CPA, MBA, MS, JD, LL.M

Generally, it refers to an attorney who is authorized and retained by a title insurance company, to render opinion on their behalf and handle closings. Oftentimes, an approved attorney may have to fill out certain applications and maintain certain levels of malpractice insurance. Also, it’s possible that an approved attorney is called by different names in different (jurisdictions). Depending on the jurisdiction and local customs, a key function of an approved attorney, is to shield the title company from claims that it is engaging in the unauthorized practice of law. Clients should be mindful that an approved attorney is probably working on the behalf of the title company. Although, it may not be a legal requirement, a party to a real estate transaction may benefit, in order to identify and/or his or her argue about potential issues. From a sociological point of view, it is fascinating to watch how the initial mistrust among the parties creates the need for a third (independent) party, and how the circle of people mistrusts becomes a multi billion industry.

 

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