Connecticut Adopts Real Estate Closing Provisions
The state of Connecticut has enacted provisions requiring real estate closings to be conducted by licensed attorneys. These provisions are effective as of October 1, 2019.
Under the new provision, no person shall conduct a real estate closing in Connecticut unless the person is a licensed attorney who has not been disqualified from the practice of law due to resignation, disbarment, or being placed on inactive status or suspension.
For purposes of this provision, “Real Estate Closing” means a closing for a mortgage loan transaction or any transaction where consideration is paid in exchange for ownership of real property. Not included in this definition are home equity lines of credit or any other loan transaction that does not involve the issuance of a lender’s or mortgagee’s policy of title insurance.
For the full text of Senate Bill 320, please refer to https://www.cga.ct.gov/2019/ACT/pa/pdf/2019PA-00088-R00SB-00320-PA.pdf.
Elizabeth Dailey, JD, is a Regulatory Compliance Director with CLA. She is a graduate of the University of New Hampshire and earned her juris doctor at New England Law. She is admitted to the Massachusetts Bar.
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