Legal Question in Banking Law in Virginia
title company error
In March 2005, we purchased a home
and went to the title company with a
cashiers check for 46k to close the deal.
Everything was signed and complete.
Now it is May 2006 and we get a call
from our bank saying the check was
never cashed! They will issue a stop
payment and return our money. We are
not sure of our legal obligations at this
point. Please advise.
Asked on 7/26/06, 7:35 pm
1 Answer from Attorneys
Michael Stone
Law Offices of Michael B. Stone Toll Free 1-855-USE-MIKE
Re: title company error
You are going to have to hang onto the money for four years after the close of escrow, because chances are somebody is going to wake up and demand the money. After that my best guess is, it's yours.
Answered on 7/26/06, 9:19 pm
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