Legal Question in Consumer Law in Massachusetts

If a lawyer holds $800 in escrow for nine years, until a case is settled, am I entitled to interest when I get the $800 back?

Asked on 3/17/10, 11:27 pm

3 Answers from Attorneys

Warren Wood Law Offices of Warren Wood

More than likely the answer is "Yes". Speak with your legal assistant to determine how best to proceed.

Read more
Answered on 3/23/10, 12:46 am
Jonas Jacobson Law Offices of Jonas Jacobson

I disagree. I do not believe that you are most likely entitled to interest, depending of course upon why the case took nine years to settle.

Briefly, attorneys hold client funds in a special bank account, the interest on which is used to fund legal services organizations.

Now, if the escrow account was established separately from the IOLTA account, then you may be entitled to interest.

Read more
Answered on 3/23/10, 9:08 am
henry lebensbaum Law Offices of Henry Lebensbaum (978-749-3606)

You are not entitled to interest, but you may be entitled to an explanation from your lawyer. This is unbelievable.

Contact me with any questions at 978-749-3606.

Read more
Answered on 3/23/10, 9:20 am

Related Questions & Answers

More Consumer Law questions and answers in Massachusetts