attorney purchased property from client, is it legal

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weena

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my brother and i owned tennants in common, real estate. we were not agreeing on terms of selling the property which is valued at approx $7 million so my brother got mad and retained an attorney. i was forced to follow suite.
Before we came to any resolution, my brother acted out with spite and sold out his half of the property, (which was our parents family home) TO his attorney for a mere $500,000. This has affected me greatly in many ways. Do i have any recourse. Did my brother or his attorney break any laws by doing this transaction. My brothers attorney (several times in the past) has also been my attorney.
 
I doubt they broke any laws. People, even lawyers, are allowed to sell and buy property. And unless you had a right of first refusal or something else, you probably have no recourse.

Do you think his attorney was conflicted out of dealing with the property? Why?

Even if he did, so what? How does this impact you? You're still the co-tenant of the property, which should still have the same value.
 
When you say he "retained an attorney." What did he retain the attorney for? That is the conflict of interest more so than where the attorney bought the property (although that could also put the attorney in jeopardy).

If the attorney had represented you in the past, it is likely that the attorney would be barred in representing your brother against you. As for buying the property, he is walking a pretty thin line in purchasing the property that is the object of his being retained by your brother. (If I am understanding you correctly).

However, I don't see how this negatively affects you. The attorney will likely be more savvy about the property and what to do with it. He may even be beneficial to you as a co-owner. So why don't you tell me why you think this is hurting you and I'll comment further.
 
hi and thank you SO much for your response. Yes, my brother retained this lawyer to try and force me to sell. I had not wanted to sell, especially since neither my brother or i needed the money and the younger family members all wanted to keep the place in the family. Its a gorgeous old antebellum home on the bayou filled with wonderful memories and a place for the entire family to continue making future memories. I was surprised when i first learned, the attorney (my brother was using to force this sale on me) was the same attorney i had used on multiple business transactions through the years. In fact, this man has served as counsel for most all of my family from time to time so he does indeed have very concise knowledge of my finances. At any rate, i finally agreed to sell with my brother and we began to work out the detail but then the shock... my brother suddenly sold out to this man, our long time "family" attorney.... for $500,000. How did this hurt me? In addition to hurting my feelings, i believe my brother and the lawyer should have asked me if i would be interested in buying out his half. Why "give" the old home place to our attorney, he has been more than compensated monetarily through the years by our family...now he gets my parents home too. Is there not a conflict of interest in the lawyer buying property from his client and isn't unethical for him to have purchased it SO far below market value? At this point, however, i am simply venting. I have given up because 3 law firms have refused to take the case so i must accept i have NO CASE and accept the fact that attorneys can do whatever they want to do and they have no true regulatory body because the Fl. Bar is a joke. They will slap this attorneys hand and tell him "bad boy" but that's not what i want. I want my parents home back from this individual who stole my parents home and i can see that is never going to happen and life goes on BUT still......to you j.harris......i truly appreciate your time and interest......thank you
 
You can buy the new owner's interest in the home.
Make him an offer and see if he will sell.
 
Is there not a conflict of interest in the lawyer buying property from his client and isn't unethical for him to have purchased it SO far below market value?
No to both. If there is a conflict, as jharris said above, it lies in the fact that the attorney had been retained by you in the past and is now acting adverse to your interests. I think its arguable whether or not he is acting adverse to your interests, because the harm you allege is basically hurt feelings and lost opportunity to buy the house. If anyone has a duty to respect those, it seems to me it would be your brother, not your former lawyer. Similarly, if your brother wanted to sell for more, he could have; the lawyer doesn't need to turn down a bargain just because he used to be your lawyer. The flip side is, he might know your family history and situation, know the importance of keeping the house in the family, ought not take advantage of family strife of his clients to profit, etc. So I think it could at least be argued - if he's not in direct conflict, at least he didn't have his client's best interests at heart, or acted in a way unbecoming a lawyer, or something similar.
 
thank you for your thoughts....the first thing i did was make the new partner a fair offer.....but he wants 8 times more than he paid for the property......thank you again
 
dee_dub.....thank you. you're correct, my issues are with my brother and i have found an attorney in Miami who has agreed to represent me in a suit against my brother AND the attorney. I realize how petty this must appear to some but i believe i have a duty to fight for my fathers respect and for all he worked his entire life to achieve. His home was to be left in the family, not left to an outsider. My brother has mental and physical issues and while if feel sorry for him, i do not feel sorry for the attorney who took advantage of him. We are only able to walk in our own shoes, all of us.....but i do appreciate you thoughts.....Thanks again
 
O hush :) ....i know i said i was walking away but when the Miami firm said they would take it, i have renewed hope and buzy making notes to give them....so.....whatz ya'lls thoughts on this....since my brother and i were in the process of working out the details of selling the house together, i.e., price, contents, etc., was that a breech of contract on my brothers part to have sold the house to his lawyer, in the middle of that??
 
Definitely not a breach of contract. You were still haggling over price etc. so there was no contract in place. Unless you had an option to purchase, a right of first refusal, something like that, you have no suit against your brother.
 
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