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Posts Tagged ‘Escrow Funds’

  • Disposing of Escrow Funds Belonging to Missing Client

    NYPRR Archive • • Comments Off on Disposing of Escrow Funds Belonging to Missing Client

    By Lazar Emanuel [Originally published in NYPRR August 2002]   What are a lawyer’s obligations in either of the following circumstances? Example One: A law firm recovered a judgment in behalf of its client. The judgment provided for payment in annual...

  • NYSBA Nixes Escrow Checks on Uncollected Bank Funds

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    By Lazar Emanuel [Originally published in NYPRR May 2001]   Stage set: A typical house title closing. Present: The usual cast. Plot: Buyers have contracted to pay $250,000 for a one-family house in Queens. Seller’s attorney is holding the $25,000 con-...

  • Primer on Trust Accounts — Don’t Use Money & Do Keep Records

    NYPRR Archive • • Comments Off on Primer on Trust Accounts — Don’t Use Money & Do Keep Records

    By Sarah Diane McShea [Originally published in NYPRR April 2001]   It may seem surprising that despite nearly two decades of vigorous enforcement of the rules governing escrow accounts, the leading offenses cited in suspension and disbarment cases in New...

  • NYSBA Ethics Opinion on Escrow Fund

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    By Lazar Emanuel [Originally published in NYPRR February 1999]   Summary of Opinion 710 — 11/6/98 (35-98) A lawyer has been holding an escrow fund after a real estate closing, to secure buyers against loss under a possible sidewalk violation assessment...

  • Out-of-State Law Practice & Escrow Accounts: Ethics Opinions

    NYPRR Archive • • Comments Off on Out-of-State Law Practice & Escrow Accounts: Ethics Opinions

    By Roy Simon [Originally published in NYPRR December 1998]   Recently, the New York State Bar’s Committee on Professional Ethics issued an opinion about a lawyer’s duties as an escrow agent, and the Nassau County Bar’s Professional Ethics Committee...

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