Spring 2007 - #3. An EARLY PROTOTYPE Program for Certifying Specialists in Real Estate Practice.

Vermont Bar Journal

2007.

Spring 2007 - #3.

An EARLY PROTOTYPE Program for Certifying Specialists in Real Estate Practice

THE VERMONT BAR JOURNAL SPRING 2007

An EARLY PROTOTYPE Program for Certifying Specialists in Real Estate Practice

Preamble

This prototype program for certifying attorneys as specialists in real estate practice was developed on the presumption that Rule 7.4 of the Rule of Professional Conduct will remain as it is presently written. That rule provides that an attorney may only identify herself or himself as a specialist (without the disclaimer in the rule) if the American Bar Association has approved the program issuing the certification. If the Vermont Bar Association adopts a program for certification, the program will have to be submitted to the American Bar Association for approval. This prototype follows the guidelines to qualify for the ABA approval as presently offered.

Fees and Costs or the Applicant

* Application Fee: $250.00*

* Test Fee: $100.00 - No fee to retake a segment of the exam if unfortunate circumstances prevail.*

* Bi-Annual Fee (Renewal of Certification): $50.00*

* Note: No one has completed an analysis of what the program might cost and these fees are submitted for preliminary consideration only. If the program is to be supported only by fees, the actual fees for the program would likely be substantially more. The ABA guidelines do not cover program fees.

Preliminary Qualifications for Applicants

* Admitted to Practice Law and In Good Standing in Vermont

Substantial Involvement in the Practice of Real Estate

* Minimum of five years (ABA standards = three years) in practice (in Vermont?) before application.

* Self certify - by Affidavit

* Satisfy the criteria that a Applicant for Certification must practice in the specialty area for no less than 25 percent of the total practice time for an attorney in a normal full-time practice (presumes a minimum of 520 billable hours in real estate practice). Determining that concentration in the specialty area may include: (i) tracking billable hours; or (ii) participating in a certain minimum number of transactions/matters involving the topics of practice included in "real estate" (for example, participating in at least twenty, twenty-five, or fifty real estate transactions in a twelve month period).

Peer Review and Recommendations

*...