Legal Question in Real Estate Law in New York

Real Estate Escrow

More than a year ago I sold my home and at the closing there was approx. $10k held in escrow to insure that I replace a cracked furnace. Less than 1 month later the furnace was replaced as per contract using $6K of my own money. The buyer has refused to release any of the escrow account citing problems that have nothing to due with the replacement of the furnace. My question is, Can I get out of escrow the personal money I have already spent and sue in small claims court for the rest? and how do I go about it?

Asked on 11/19/07, 12:31 pm

1 Answer from Attorneys

richard feldman richard d. feldman

Re: Real Estate Escrow

it probably depends upon what the escrow agreement says.

The escrow agent should commence an action to have a judge decide how the escrow is disposed of

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Answered on 11/19/07, 12:53 pm

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