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?
1 Answer from Attorneys
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.