Does it make sense for one attorney to handle a closing for 3 parties?

Get Legal Help Today

 Secured with SHA-256 Encryption

Does it make sense for one attorney to handle a closing for 3 parties?

My elderly father wishes to subdivide his property into 2 parcels and transfer title to me (parcel 1) and my brother (parcel 2). Each parcel of land contains a structure. There is no financial institution involved; my brother and I will pay cash. I will pay all closing costs. We would like to simplify the process by asking one attorney to handle the entire matter; does that make sense or should we each have an attorney?

Asked on February 19, 2011 under Real Estate Law, New York

Answers:

M.T.G., Member, New York Bar / FreeAdvice Contributing Attorney

Answered 10 years ago | Contributor

Generally speaking, an attorney should not represent multiple parties in any transaction or lawsuit where there could be the potential for a conflict of interest to arise.  I have seen parties attempt to have "clients" sign waivers but really that can get you in to trouble as well.  Why, may I ask, are you doing this as a purchase?  Could it be done through estate planning as well?  I would have your Father consult with an estate planner about the best way for you to handle the matter both financially and legally for all parties concerned.  If yo intend to pursue it as a division and sale your Father needs to engage an attorney to prepare all the necessary documentation and you and your brother need to have an attorney review it on your behalf at the very least.  Good luck.


IMPORTANT NOTICE: The Answer(s) provided above are for general information only. The attorney providing the answer was not serving as the attorney for the person submitting the question or in any attorney-client relationship with such person. Laws may vary from state to state, and sometimes change. Tiny variations in the facts, or a fact not set forth in a question, often can change a legal outcome or an attorney's conclusion. Although AttorneyPages.com has verified the attorney was admitted to practice law in at least one jurisdiction, he or she may not be authorized to practice law in the jurisdiction referred to in the question, nor is he or she necessarily experienced in the area of the law involved. Unlike the information in the Answer(s) above, upon which you should NOT rely, for personal advice you can rely upon we suggest you retain an attorney to represent you.

Get Legal Help Today

Find the right lawyer for your legal issue.

 Secured with SHA-256 Encryption