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The new law pending before the New York State Legislature; although perhaps, well-intentioned, appears to be incorrect in some of its premises and stands as a clear threat to the liveliehood of Notary Signing Agents.

“ To protect the rights of the buyers and sellers of real property by establishing in law that only attorneys may render legal opinions and professional judgment on real estate title matters, and that negotiation and giving advice concerning real estate contracts of sale, and the underlying transaction is the practice of law and as such must be performed only by attorneys admitted to the practice of law in the state.

To ensure that the prohibition against the unauthorized practice of law by non-attorneys applies to the rendering of legal opinions on real estate titles, and the negotiation and giving advice as to contracts or agreements for the sale of real property as it does to other legal documents according to the laws of the state, and to maintain and to specify the sanctity of the Appellate Division of the Supreme Court as the supervising and disciplining authority for attorneys.”

The authors of this bill contend that Real Estate Brokers face no penalty and are not barred from duplicity, that is representing two parties in the same matter (usually a Buyer & Seller). Therefore this law needs passing.

In fact Brokers are prohibited from doing this and can lose their license for practicing this obvious conflict of interest.  Brokers do however involve themselves in the preparation of certain contracts such as leases routinely.

This new legislation seeks to bar such practices from all, except attorneys. In the name of protecting the consumers rights, this legislation would ban Title Companies and Real Estate Brokers, and employees thereof  from preparing contracts, or participating on level of the transaction.

Their contention is that the “ underlying transaction is the practice of law...” In other words signing a lease, a sale contract, a lenders note or mortgage are legal acts only to be practiced by attorneys.

Notary Signing Agents would be out the door without a job in a minute.

What can you do? Call. Write. Email your local and state reps to  VOTE NO!

Use the links below to find YOUR representative TODAY!

http://assembly.state.ny.us/

http://www.senate.state.ny.us/senatehomepage.nsf/home?openform