Q: can the same law firm representing a bank in the forclosure also represent the acquiring LLC in a forclosure auction?
basically the law firm representing the bank of New York Mellion that foreclosed on my house also represents the company Offerpad LLC that purchased my house. Is this legal? Seems like insider trading? Bank refused to work with me and now I have been served a 30 day notice to vacate. I am a disabled veteran and this hasn't been an easy process.
A: It is legal for a lawfirm to represent multiple clients, provided that the interest of the clients to one another do not conflict. I do not have enough information from your question to say if there is anything wrong with the lawfirm representing the foreclosing bank and then representing the successful bidder at a foreclosure sale. Any conflict, if any existed would be between the bank and the company and would not make the representation illegal.
Richard Paul Zaretsky agrees with this answer
A: Typically there will not be a conflict in such representation. And if there was a conflict it would be either the lender or the buyer that could raise it - not the borrower.
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