LEO: Title Insurance Business - Participation LE Op. 603
Title Insurance Business - Participation by Attorneys.
June 24, 1985
It is not improper for a law firm to process applications for title
insurance on behalf of its clients through a title insurance business in
which the law firm or members of the law firm have a business interest,
when the offices of the law firm and the title insurance company occupy
the same premises, the employees of the title insurance business are
salaried employees of the law firm and the law firm serves as legal
counsel for the title insurance business, so long as the title insurance
carrier and the title insurance applicants have consented after full and
adequate disclosure under the circumstances, and the transactions are not
unconscionable, unfair, inequitable or in violation of Virginia Code §
38.1-733.1 to the extent that said statute applies to such transactions.
[LE Op. 174, LE Op. 174-A, LE Op. 187, LE Op. 545, LE Op. 591; DR:1-
102(A)(3), 5-104(A); Virginia Code § 38.1-733.1 of 1950]
Committee Opinion June 24, 1985
See also LE Op. 712, LE Op. 825, LE Op. 869, and LE Op. 939.