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Fiduciary Duty Owed by Escrow Agent

The use of escrow agreements and escrow agents is common.   They are used in relationship to purchase-sale or real estate contracts.  They are also used in relationship to certain settlement agreements.  The escrow agent may be a third-party, such as a title company or financial institution, or it may be a law firm representing a party in the transaction or case.  An escrow agent owes a fiduciary duty to the parties to the escrow transaction or agreement.  Carter Development of Massachusetts, LLC v. Howard, 44 Fla. L. Weekly D2833a (Fla. 1st DCA 2019).  “Any limitation on the use of money placed...

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