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Have you ever heard of a settlement being held in a lawyer's escrow account?
Anonymous3 views4 answers
My lawyer is trying to reach settlement prior to court. The other lawyer (plaintiff?) is willing to reach settlement by providing half upfront and the other half in an escrow account to access upon leaving (the apt). I was told that both lawyers have access to this account...my apologies in advance for being hesitant, but how do I know that the plantiff lawyer will not access those funds to take them back and also my lawyer will not access these funds for his use instead?
It's a bit of trust. But as a practical matter, no attorney is going to mess with the escrow account or get into trouble over a small security deposit. If there's a written agreement and an escrow account, you're probably fine.
