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Lender, escrow agent dispute right to escrow funds after foreclosure
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Court Report
Monday, September 21, 2020
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After the borrower of a loan for commercial property defaulted, its lender discovered that taxes had not been payed as required through the escrow funds and that funds were still held in the escrow agent’s account. It requested the funds be returned and the escrow agent refused. The lender then filed suit for breach of contract, unjust enrichment, breach of fiduciary duty and conversion. Read on for more details.
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