Legal Question in Real Estate Law in Ohio

escrow withholding question

When we closed on our home over a year ago, $1500 was held back for repairs to the driveway to be paid when the builder completed that task. The escrow agreement stated repairs would be done by April 30, they weren't done until June 30. The agreement also stated that funds would be released when complete to the buyers satisfaction. We have just found out that the title company released those funds last September without our knowledge or signature to the builder based on information from our mortgage holder. Can they legally do this without notifiying us or without our signature?


Asked on 3/16/04, 4:44 pm

1 Answer from Attorneys
Frank Rozanc Frank J. Rozanc, Esq.

Re: escrow withholding question

Depends on the language of the contract and escrow instructions. "Buyers satisfaction" is sometimes difficult to define, and you will have to prove actual damages to go after the title company.

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Answered on 3/22/04, 2:46 am


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