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WBK Industry News - State Regulatory Developments

Connecticut Amends Real Estate Closing Requirements

Connecticut recently enacted Senate Bill 320 (SB 320), effective on October 1, 2019, which requires most real estate closings to be conducted by a licensed attorney in Connecticut.  

Under the new bill, no person may conduct a covered 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, being placed on inactive status, or suspension.

For these purposes, “real estate closing” means a closing for: (i) a mortgage loan transaction, other than a home equity line of credit transaction or any other loan transaction that does not involve the issuance of a lender’s or mortgagee’s policy of title insurance in connection with such transaction, to be secured by real property in Connecticut; or (ii) any transaction in which consideration is paid by a party to such transaction to effectuate a change in the ownership of real property in Connecticut.

A violation of the above requirements will constitute the unauthorized practice of law in Connecticut.