The lucrative 60 percent title insurance commissions that sweeten attorneys’ return in real estate closings are routinely being siphoned away to droves of unlicensed, out-of-state interlopers lacking a key legal qualification — they’re not lawyers.
That’s the class action claim that plaintiff John Q. Gale, a Hartford, Conn., real estate lawyer, is making in a federal complaint against 10 national title insurance companies. For him and hundreds of other locally admitted real estate attorneys, Gale is seeking to put a stop to the allegedly illegal closings, as well as the disgorgement of lost fees from most of the nation’s largest title insurers.
This content has been archived. It is available through our partners, LexisNexis® and Bloomberg Law.
To view this content, please continue to their sites.
LexisNexis® and Bloomberg Law are third party online distributors of the broad collection of current and archived versions of ALM's legal news publications. LexisNexis® and Bloomberg Law customers are able to access and use ALM's content, including content from the National Law Journal, The American Lawyer, Legaltech News, The New York Law Journal, and Corporate Counsel, as well as other sources of legal information.
For questions call 1-877-256-2472 or contact us at [email protected]