Legal Question in Real Estate Law in California
Do I have to pay back escrow paid to me in error if it's already gone
Hello,
I just sold my home and was paid the proceeds for it, including approx $5,000 that was paid in error by the Title company to my mortgate company (apparently due to a typo that I was not aware of--they transposed 2 numbers) and my mortgage company subsequently paid it to me. I have already spent the money and would like to know whether I am required to pay that money back since it was the Title Company's error. I would be very hard pressed to accumulate that money back to be able to pay it.
I appreciate any information.
Regards.
3 Answers from Attorneys
Re: Do I have to pay back escrow paid to me in error if it's already gone
Likely yes. They may allow you time and payments.
Re: Do I have to pay back escrow paid to me in error if it's already gone
I do not understand the question.
It appears that the title company paid the mortgage company too much, and they later issued a refund for the overpayment to you.
Who are you supposed to pay this money to if it was a refund? The money would seem to belong to you.
Re: Do I have to pay back escrow paid to me in error if it's already gone
If it is truly not yours, then, most likely, yes.
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