My Father passed away one year ago. He was 50% owner of another home with his sister. That home was sold & closed 3 weeks ago

3 views 2 answers
We have not received our share of the money. Apparently it is being held in escrow. How long can this money be held in escrow?

Attorney Answers

2
Steven Marc AdlerEstate Planning AttorneyJericho, NY ·
Depending on the particular facts, there could be a several reasons (title issues, creditor claims, estate taxes, etc.) why the sales proceeds are being held in escrow. However, if there is no legal reason, your share of the proceeds should be distributed, in exchange for a Receipt and Releae, right away. You should contact the estate attorney or the Executor for an explanation or retain legal counsel of your own to protect your interests.
0 upvotes
Joseph Bollhofer ·
It is impossible to answer that question. I would need to see the escrow agreement and speak with the escrow agent. You should do both and consult with an attorney if you don't like the answer or understand. Joseph A. Bollhofer, Esq. Joseph A. Bollhofer, P.C. 291 Lake Ave. St. James, NY 11780 (631)584-0100 fax (631)584-2304 [email protected] www.bollhoferlaw.com Member, National Academy of Elder Law Attorneys (NAELA) This e-mail may contain confidential or privileged information. If you are not the intended recipient, please notify the sender immediately by return e-mail and delete this e-mail and all copies and attachments. If you are not the intended recipient, or the employee or agent responsible for delivering the message to the intended recipient, you are hereby notified that any dissemination, distribution or copying of this communication is strictly prohibited. IRS Circular 230 Notice: Unless specifically stated otherwise, any tax advice contained in this communication (including any attachments) is not intended or written to be used, and cannot be used, for the purpose of (i) avoiding penalties under the Internal Revenue Code or (ii) promoting, marketing or recommending to another party any transaction or matter addressed herein. Unless specifically stated otherwise, this communication shall not be deemed to be legal or tax advice, and no attorney-client relationship shall be deemed to have been created.
0 upvotes