Chicago Legal Malpractice Lawyer Blog
This is an opinion of the ARDC review board, the final step before a disciplinary matter goes before the Illinois Supreme Court. The ARDC charged the lawyer with failing to disclose her financial interest in six real estate closings because she was the title agent. Moreover, in four transactions the lawyer represented both buyer and seller.
Lawyers often act as title agents in real estate transactions. Acting as a title agent is very common. This opinion tells lawyers that they must disclose that they are acting as a title agent. Failure to disclose this conflict of interest (even though this occurs every day in Illinois) is misconduct.