Escrow & Title
New Jersey is an 'attorney state' for real estate closings. This means:
AOnly attorneys may own real estate in New Jersey
BAn attorney is typically involved in reviewing contracts and conducting the closing✓ Correct
CAll purchase contracts must be drafted by a licensed attorney
DReal estate agents are prohibited from explaining contracts to their clients
Explanation
New Jersey is an attorney state, meaning attorneys are customarily and often required to be involved in real estate transactions — particularly for the attorney review period and the conduct of the closing.
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