Legal Question in Real Estate Law in Massachusetts

We built a new house, and held back funds in escrow for incomplete punchlist items. The contractor has since gone bankrupt, and the work remains incomplete. Can we use the funds in escrow, or does it have to go through the bankrupcy process.

The escrow is held by my mortgage company.

Thanks


Asked on 5/13/13, 11:51 am

1 Answer from Attorneys
Jonas Jacobson Law Offices of Jonas Jacobson

I believe you need to file a "motion for relief from stay" and get the bankruptcy court's permission to withdraw the money. However, you may have additional claims against the contractor. You should act quickly now, if you have not hired someone already. My information is available through my website below.

Law Offices of Jonas Jacobson

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Answered on 7/15/13, 6:22 pm


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