Legal Question in Real Estate Law in New York

A release of contract has been signed by all parties. It included the loss of the buyer's earnest money to the seller. Real estate broker claims he must have both attorney's approval before he can write the check to the seller. Is this correct?


Asked on 8/06/15, 5:45 am

2 Answers from Attorneys
David Slater David P. Slater, Esq.

Technically, the release, if notarized, should suffice. However, he wants further protection so try to give it.

Read more
Answered on 8/06/15, 7:46 am
Walter LeVine Walter D. LeVine, Esq.

I agree with David, although the contract terms on its termination should control. Does the contract require the attorneys' approval of termination documents? If not, I agree that the technical answer of David is acceptable, although having the attorneys also approve just assures there will be no future problems.

Read more
Answered on 8/06/15, 2:38 pm


Related Questions & Answers

More Real Estate and Real Property questions and answers in New York