Title Company Disburses Funds To Managing Member After Being Put On Notice By Attorney Not To Do So?
I have a few questions: What is the likelihood that a title company would disburse a commission to a Managing Member of an LLC if they have already been put on notice by an Attorney not to do so? My situation consists of the actual Managing Member instructing the title company and the buyer of the property not to speak to anyone but him after the deal got closer to closing. Though we are not actual members of the LLC, we do have agreements between the parties authorizing us permission to act on behalf of any entity whom this Managing Member is part of. He shows his certificate supporting his ownership of the LLC and his status as Managing Member. He had authorized myself and another partner of mine to sign on behalf of the LLC. Both of our names are on the contract as Managing Members with the Buyer. We also filed the escrow instructions before the Managing Member found out about it. Now that the title company has been put on notice by the attorney that they could be sought liable for damages against ourselves if they disburse funds upon close of escrow to instructions that are not consistent with those that were initially filed, they have decided that they no longer want to be the holder of the commission that is due to us. What happens now? They said it would be turned over to a neutral 3rd party to handle. What do we do now considering they want no part of this? Can the Managing Member take all of the money or do we have any rights to claim our share of the commission? Need Help Thanks..
Sure, forclosures can be available anywhere.
can you tell me where to start? How did you do your first forclosure purchase?
Thanks Again!!
Do any one know if this forum have forms for realestate ?