Legal Question in Real Estate Law in Florida
Condo Sale
I inherited a condo in Sunrise, FL. I am selling it privately. The buyers gave me a check that equals 20% of the purchase price. Do I need to hold on to this check? Do I need to deposit it into a separate account?
2 Answers from Attorneys
Re: Condo Sale
NOTE: This communication is not intended as and should not be interpreted as legal advice. Rather, it is intended solely as a general discussion of legal principles. You should not rely on or take action based on this communication without first presenting ALL relevant details to a competent attorney in your jurisdiction and then receiving the attorney's individualized advice for you. By reading the "Response" to your question or comment, you agree that the opinion expressed is not intended to, nor does it, create any attorney-client relationship, nor does it constitute legal advice to any person reviewing such information, nor will it be considered an attorney-client privileged communication. If you do not agree, then stop right here, and do not read any further.
It should be placed in your attorney's trust account or the trust account of the closing agent. You are not supposed to cash the check if you do not have a trust account. The monies are to be held pending the successful closing on the sale of this property.
Scott R. Jay, Esq.
Re: Condo Sale
NOTE: This communication is not intended as and should not be interpreted as legal advice. Rather, it is intended solely as a general discussion of legal principles. You should not rely on or take action based on this communication without first presenting ALL relevant details to a competent attorney in your jurisdiction and then receiving the attorney's individualized advice for you. By reading the "Response" to your question or comment, you agree that the opinion expressed is not intended to, nor does it, create any attorney-client relationship, nor does it constitute legal advice to any person reviewing such information, nor will it be considered an attorney-client privileged communication. If you do not agree, then stop right here, and do not read any further.
It should be placed in your attorney's trust account or the trust account of the closing agent. You are not supposed to cash the check if you do not have a trust account. The monies are to be held pending the successful closing on the sale of this property.
Scott R. Jay, Esq.
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