Legal Question in Real Estate Law in New York

As a seller of a home in NYC, I set aside funds in escrow to remove a violation from the property. There is a required penalty payment of about half the escrow amount needed to remove the violation. Should the payment come from the escrow or am I obligated to pay, and get a refund from the escrow?

Asked on 10/02/13, 9:31 am

1 Answer from Attorneys

Walter LeVine Walter D. LeVine, Esq.
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Since the escrow was designed to cover the penalty, you should get consent from thre escrow holder to relase what amount is needed to satisfy it.

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Answered on 10/02/13, 10:44 am

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