10K In Excrow To The Court?
Back in 2008 we put 10K into escrow for a residential purchase. Loan did not go through, so purchase was vacated. The seller would not sign to release the escrow, so the title company filed a summons with the court. We were told legal fees of loser would be as much as the 10K, so we did not respond. However the seller did not respond either, so just a week ago we received a "notice of lack of prosecution". If the judge dismisses the case, what happens to our 10K? Anyone know?
The title company stated they could not determine who should get the escrow, me or the seller. I will be filing an answer to the complaint showing how the process went down, and why I should be able to get my escrow back. Hope it works. That is a lot of money to me.
Have you attempted to talk to the seller and work something out?