LEO: Disbursement of Real Estate Settlement, LE Op. 751
Disbursement of Real Estate Settlement Funds Prior to Deposit.
December 4, 1985
It is improper for an attorney to deliver sales proceeds or commission checks at closing prior to the bank deposit of the disbursable funds although the disbursement checks are dated the following business day, or the disbursement checks are dated the date of closing and delivered with the instruction not to negotiate the check until the disbursable funds are deposited by the attorney. [Canon 9; LE Op. 183, LE Op. 663]
Committee Opinion December 4, 1985