Posted by Tonya McCann on 11/11/08 6:53pm
Msg #269476

Structured Settlements

Hi, I am in Georgia. I am aware that I am not allowed to do real estate purchases, refinancing, or reverse mortgages because I am in a attorney state. Does this apply to structured settlements that I receive from lenders. I also need to know if it is okay to verify and notarize papers for preliminary paperwork. Where the lender needs me to verify everything before they proceed further with the loan papers. Georgia doesn't do to well with breaking down the "do" and "don't". Any suggestions or help would be appreciated.

Reply by PAW on 11/11/08 8:37pm
Msg #269483

I'm not an attorney licensed to practice law in GA, so don't take my response as legal advice or opinion.

The way I read the "instructions" and the GA UPL Advisory Opinion 2003-2, if the settlement has a real property transaction then it would need to be "closed" by an attorney. If the settlement has nothing to do with a real property transaction, which many don't, then an attorney would not be required as stated in the AO. However, there may be other conditions surrounding the settlement that may need an attorney.

AO 2003-2 states, in part: "... that a lawyer cannot delegate responsibility for the closing of a real estate transaction to a non-lawyer and required the physical presence of an attorney for the preparation and execution of a deed of conveyance (including, but not limited to, a warranty deed, limited warranty deed, quitclaim deed, security deed, and deed to secure debt). In other words, we have consistently held that it is the unauthorized practice of law for someone other than a duly-licensed Georgia attorney to close a real estate transaction or to prepare or facilitate the execution of such deed(s) for the benefit of a seller, borrower, or lender."

Reply by Tonya McCann on 11/19/08 5:53pm
Msg #270090

Thank you for your input. I will be sure to ask if this is real property included in the structure or as they usually are, a suit won for damages.

Ga law isn't really clear on alot of things, I find forums very helpful.

Respectfully,

Tonya McCann