QUESTION
I sold my small business in California, the buyer is asking to hold some of the seller money to fix some items five days after the Escrow was closed
Asked on Nov 16th, 2015 on Business Law - California
More details to this question:
And the buyer already took position of the store for five days now. Can the Escrow legally do that?
1 ANSWER
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Doland & Fraade
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Without looking at the purchase agreement and escrow instructions there is no way to know that if it is authorized. Escrow companies are bound to follow the jointly signed escrow instructions. They don't take unilateral action or instructions from just one party.
Answered on Nov 17th, 2015 at 11:13 AM