Escrow Deposit Disputes
Jacqueline A. Salcines, PA is a South Florida based law firm experienced in handling escrow deposit disputes. Its business attorneys and real estate lawyers have provided guidance and legal advice to clients in the Miami Dade, Broward, Palm Beach and Monroe County areas that have been essential to the resolution of numerous escrow disputes.
An escrow dispute arises when a buyer, who has placed a deposit on a real estate contract, demands the return of their deposit after either the seller breaches, or they do. Anytime a real estate sales contract fails to close, a dispute as to who is the rightful owner of the deposit can arise. While often the buyer cancels on time and entitled to the return of the deposit, often the seller is not agreeable. The title company must then hold the escrow funds in “Trust” until the parties resolve their disputes. Often time, a resolution out of court can not be obtained, and the parties must litigate in court for the Judge to determine who is the rightful owner of the escrow deposit.
For individuals and business entities in the South Florida area, Jacqueline A. Salcines, PA is the firm for you. With the necessary skill and knowledge of the law and a personalized approach to every client, we are here to help. We listen, understand, and take action based on our client’s needs.
What Florida Law Says About Escrow Deposit Disputes
The Florida Statues and Administrative Rules provide procedures on how disputes should be handled. Meanwhile, the Florida Real Estate Commission (FREC) dictates the action of brokers with regards to escrow disputes.
Florida Statute requires the broker to return the escrow at the time dictated by the law. But if he or she doubts if the recipient is entitled to it, the broker should immediately notify the FREC. He or she is then given thirty business days to begin settlement procedures that will determine who the escrow deposit shall be released to.
Doing this without legal counsel is not only daunting; it puts a dent on an individual or company’s
Contact the Law Offices of Jacqueline A. Salcines, PA if you are facing any type of escrow dispute. We are a phone call away.
Offices located in Coral Gables
Tel: 305 669 5280
Fax: 305 669 5283