Fiduciary Duty Owed by Escrow Agent

When it comes to buying property, there's quite a lot of documentation involved. The use of escrow agreements and escrow agents is common when purchasing property. They are used in relationship to purchase-sale of 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,...