Can someone from NY explain what does it mean when a signing company says - oh, you are in an attorney state. I understand that an attorney has to be part of the closing. But does that mean all RE transactions need to be overseen by an attorney?

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Unless I’ve been doing many closings horrifically wrong for many years (and my own personal R/E purchases and refi’s are invalid and recorded by the Court Clerk illegally), NY is not an attorney state.

Banks are often are represented by counsel (if dealing with third-parties), but a simple refi or in-bank CEMA principal requires no attorney. Even sales contracts require no attorney if between principals (although they are a good idea).

However, if a contract is to be drawn up (or modified), that tends to be the practice of law, and generally requires an attorney’s involvement.

HWB.

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