Eligibility for Legal Assistance

To be eligible for financial assistance, LIBOR Members must be involved in litigation that meets certain criteria established by the LIBOR Board of Directors.  As outlined in the LIBOR Policy & Procedures Manual, litigation appropriate for support includes matters that:

• Present an opportunity for a clarifying precedent or involves issues of significance to a substantial portion of the membership;
• Are designed to promote or defend the rights of LIBOR Members, the public, or others concerned with protection of private property rights;
• Name the Long Island Board of Realtors®, Inc., or one or more LIBOR Members as a defendant and where legal issues involved are of significance to the real estate industry as a whole;
• Require LIBOR Members to go to court to seek judicial enforcement of an arbitration award rendered by the LIBOR Professional Standards process.

The Legal Assistance Request Process

For consideration by the Legal Assistance Committee for financial assistance through the Legal Assistance Program, complete the on-line form here and submit to LIBOR. 

Once your request is received, LIBOR will schedule a meeting of the Legal Assistance Committee to evaluate your request for financial assistance.  You will be provided with the meeting date so that you may attend to present your request.  Applicants will be given the opportunity to explain how their particular matter meets the criteria for legal assistance.

Typically, the applicant and/or their legal counsel attends the Legal Assistance Committee meeting.  Following their presentation, the Legal Assistance Committee members will have the opportunity to ask questions of the presenters.  Parties seeking assistance are strongly encouraged to appear, either in-person or virtually, to present their request and be able to answer any questions from the Legal Assistance Committee members regarding the legal issues presented in the case.

Following the presentation, the Legal Assistance Committee will deliberate and vote whether, and in what amount, if any, to recommend to fund a request for financial assistance.  The Committee deliberations are confidential, and Committee members may not discuss the deliberations after the meeting. 

Legal Assistance Terms

Any Committee recommendations to support a request for financial assistance in excess of $10,000.00 will be presented to the LIBOR Board of Directors (BOD) for approval.  If warranted, the Legal Assistance Committee may reimburse up to $3,000.00 for the legal costs incurred in seeking judicial enforcement of an arbitration award rendered in accordance with Article 17 of the Realtor® Code of Ethics, and any amounts up to $10,000.00 must be reported to the LIBOR Board of Directors at the next BOD meeting. 

In certain instances, the Legal Assistance Committee may further recommend that both the New York State Association of Realtors® (NYSAR) and the National Association of Realtors® (NAR) be approached for participation in the case.

Parties will be notified in writing of the Legal Assistance Committee’s decision.  If legal assistance has been approved, the support will be disbursed upon receipt of proper documentation of fees and expenses. 

Please keep in mind that support for financial assistance may not be used to pay judgements, damages, fines, settlements, opposing counsel’s legal fees or costs, or other legal fees or costs incurred in pursuit of a party’s request for financial assistance from LIBOR or other entities.