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?
Answered on: 10/02/13, 10:44 am by Walter LeVine
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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Walter D. LeVine, Esq. 23 Vreeland Road #102 Florham Park, NJ 07932► Other answers from this attorney