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PWinFL
Florida
469 Posts |
 Posted - 01/30/2010 : 05:30:43 AM
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Conducting a real estate closing in SC is the practice of law (as defined by the SC courts and statutes), which only an attorney can do. Any reputable mortgage lender will require that an attorney be selected to conduct the closing. The choice of the closing attorney is up to the borrower, but often allows the lender to select the attorney and/or law firm to handle the closing.
Of the attorneys that I have spoken to or searched their websites for information on whether or not an attorney needs to be physically present and conduct the closing, all but one said that non-attorneys may not conduct the closing and the presence of the closing attorney is required. The one dissenting attorney didn't come out and say that "phone" presence is acceptable, but didn't rule it out either, citing an example of a SC property closing where the attorney was not physically present, but conducted the closing via telephone with a non-attorney representative from his firm.
The Supreme Court of South Carolina issued a memorandum to all attorneys (see http://www.judicial.state.sc.us/whatsnew/displaywhatsnew.cfm?indexID=575) regarding "Guidelines for Attorneys Conducting Residential Real Estate Closings".
The SC Bar Ethics Advisory committee stated in their newsletters:
Attorneys are advised to read these opinions carefully for guidance. While the Committee cannot issue a formal opinion on unauthorized practice issues, the consensus of the Committee is that a fair reading of these cases indicates that all aspects of real estate transactions must be conducted or supervised by lawyers. See Watson , 589 S.E.2d at 761. In addition, the cases have indicated specifically that a lawyer should be “physically present” at a closing. See Lester, 578 S.E.2d at 7.
Never drive any faster than your guardian angel can fly.
I am not an attorney licensed to practice law in the State of Florida,
and I may not give legal advice or accept fees for legal advice.
Visit us online at http://www.PAWnotary.com |
Edited by - PWinFL on 01/30/2010 05:33:28 AM |
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Lee-AR
Arkansas
678 Posts |
Posted - 01/29/2010 : 3:20:36 PM
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Don't really know, but a SC attorney's 'phone presence' while everyone is actually in SC doesn't seem like it meets the intent of the law.
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LindaH
Florida
1754 Posts |
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vewatson
South Carolina
5 Posts |
Posted - 01/29/2010 : 06:29:34 AM
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That is exactly what I thought. I happen to get another call about out of state property this morning and I'm glad I've been turning these down.
Thank you!
Ginny |
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PWinFL
Florida
469 Posts |
Posted - 01/28/2010 : 7:09:13 PM
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It doesn't make any difference where the property is located. It makes all the difference in the world where the closing takes place. In "Attorney Only" states, like SC, GA, MA, WV, and DE, only attorneys can perform, or in some cases, supervise the actual execution of the closing documents.
The opposite, though, is not necessarily true. Closing GA property in FL, for example, is done almost every week by notary signing agents. No attorney necessary since the location of the closing is in a non-attorney state.
Never drive any faster than your guardian angel can fly.
I am not an attorney licensed to practice law in the State of Florida,
and I may not give legal advice or accept fees for legal advice.
Visit us online at http://www.PAWnotary.com |
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vewatson
South Carolina
5 Posts |
Posted - 01/28/2010 : 6:29:32 PM
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This may seem strange as I have been a signing agent for a couple of years now, but I need some clarification on loan closings in South Carolina.
Currently, I do not do any actual closings (without an attorney present). I mainly do Reverse & ReFi applications. However, I occasionally receive calls requesting loan closings for property that is not located in SC. I have been told by several signing companies that it is legal for me to perform a closing without an attorney present for out of state property. The SC Notary Reference Manual is not extremely clear regarding Unauthorized Practice of Law but it does not read like out of state property would be any different than SC property.
I have only slightly researched UPL. Since I have not been convinced that any loan closings should be performed without an attorney, I have turned all down. I welcome any additional information in respect to attorney state/UPL.
Thanks,
Ginny |
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Loan Closings in SC / Attorney State
