10.53 Unauthorized Practice of Law
1 min readLast updated: edition
Company policy is that Associates do not practice law. A common example is the drafting of non-standard or common conditions or contingencies. Agents should refer the client to an expert in that field. Here are some examples of conduct that should be viewed as the practice of law:
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Advising a seller on how to complete a seller’s property disclosure statement where issues of disclosure or non-disclosure have legal liability or implications.
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Advising clients on real estate related tax issues connected to the purchase or sale of property, or the ownership of property.
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Advising clients on the terms and conditions of loan documents and their legal implications.
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Advising clients on how to take title to property.
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Advising clients on foreclosure issues and procedures.
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Giving a legal opinion on the validity and technical points of an IRC 1031 Tax Deferred Exchange.
