Legal Question in Real Estate Law in Ohio

Title company kept the $

I received a loan ($23,000) from a private individual. We used a title company to close the deal (July 97). The loan was secured by a Real Estate 1st mortgage. The title company withheld $2,186 for back taxes. The title company closed their Cincinnati office and to date, has never forwarded the tax money for the back taxes. Since that time (July 97), there has been additional interest accrue. I contacted the investor and he is having his attorney look into the matter. I told him I would "hold" the monthly payments in escrow until this problem got straightened out. The loan was for interest only for 1-year. Consequently, I have paid interest on the entire amount ($23,000) from the beginning of which, the $2,186 was never disbursed or benefitted me. The investor said his attorney is going to "get" the title company. My question is: Who (myself or the investor) has the right to seek damages, if any, against the title company? If so, what type of damages are justifiable?


Asked on 12/09/97, 7:21 am

1 Answer from Attorneys
Patrick A. T. West Ohio Ticket Defense Patrick A. T. West, Attorney at Law

Title company kept the money & closed the doors

Generally, title companies are run by attorneys. I would check with the Office of the Disciplinary Counsel of the Ohio Supreme Court (614-644-5800) and see whether you can get some help from that office.

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Answered on 12/10/97, 12:05 am


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