On June 29th, the California Supreme Court decided 6-1 that a change of ownership under Proposition 13 justifies charging a documentary transfer tax, even when there is no direct transfer of a real property interest. [ Learn more ]
The number of wire fraud scams reported by title companies to the Internet Crime Complaint Center (IC3) spiked 480 percent in 2016, according to a warning issued to businesses by the FBI. Read on for strategies to protect money and data. [ Learn more ]
Article written by Lori Hershorin.
Appellate Victory: Escrow Holder is not Liable for Interpleading Escrow Deposit on Cancelled Transaction; Attorney’s Fees and Costs Awarded to Title Company. [ Learn more ]
Matter handled by Lori Hershorin.
Escrowee Correctly Disbursed Money to Seller Before Close of Escrow. [ Learn more ]
Hershorin & Henry obtained a major victory on December 3, 2015, when the Court of Appeal adopted Hershorin & Henry’s arguments and ruled in favor of its escrow client. This favorable Appellate Court decision represents Hershorin & Henry’s 30th appellate victory out of 30 appeals – an undefeated record in the Appellate Court.
The case involved an escrow company’s early release of the buyer’s entire down payment to the seller before the close of escrow. Due to buyer’s financial problems, escrow never closed. The buyer thereafter sued the escrow company to recover the money released to the seller (as the seller was bankrupt), claiming that the escrow company breached the escrow instructions by releasing the funds early. The Court of Appeal agreed with Hershorin & Henry’s arguments that the evidence supported the parties’ intentions of releasing the funds prior to the close of escrow.
The important lesson gained from this case is that the escrow company must require clear, written, mutual instructions from the parties before it releases any monies out of escrow.
With more than twenty years of experience in appellate law all over the State of California, Hershorin & Henry can help you identify the best arguments for an appeal, and give you an informed opinion as to whether an appeal is worthwhile. Contact us now for information about appeals at (949) 916-8047 or e-mail us at email@example.com. [ Learn more ]
Frequently Asked Questions and Answers Regarding New CFPB Rules. [ Learn more ]
ARE YOU READY? Let Hershorin & Henry, LLP assist you with training and guidance of policies and procedures to ensure proper compliance with the CFPB Rules! [ Learn more ]