Legal Question in Real Estate Law in New York

interest on escrow account

I sold real estate property in 1995 and had to keep $25,000-$10,000 in escrow for 10 years (25,000 2yrs 10,000 additional 8 years). Title insurance company refunded escrow amount in Dec.2005 but paid no interest whatsoever. What are my rights?


Asked on 1/23/06, 7:16 pm

1 Answer from Attorneys
Peter Moulinos Moulinos & Associates LLC

Re: interest on escrow account

There should have been put into the escrow agreement, if it was contemplated that the escrow would be for 10 years, a provision for interest. You should review the agreement to see its terms and if you agreed to a no-interest escrow. You can also ask for an accounting from the title company to see if they received interest. If so, you can ask for it.

Feel free to contact me if you have any additional questions.

Kind regards,

Peter Moulinos

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Answered on 1/23/06, 8:07 pm


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