REAL ESTATE: ESCROW AGENT: BREACH OF FIDUCIARY DUTY: GROSS NEGLIGENCE

S05 501, LLC v. Metro-Dade Title Co., ___ So. 3d ___, 38 Fla. L. Weekly D699 (Fla. 3d DCA March 27, 2013)

When the buyer of a preconstruction condominium unit failed to make the second deposit required by the contract of sale, the developer declared the buyer to be in default and instructed the escrow agent to disburse a substantial Click To Read Full Case Law Review...

INSURANCE: TITLE INSURANCE: FUNDS RECEIVED BY TITLE INSURANCE AGENT IN LIMITED CAPACITY AS ESCROW AGENT

Cohen v. Chicago Title Insurance Co., ___ So. 3d ___, 36 Fla. L. Weekly D58 (Fla. 3d DCA 12/29/10)

Although the insured was a licensed title insurance agent, it received the buyer’s deposit funds in its limited capacity as an escrow agent, rather than a title-issuing or closing agent. As a result, the funds received were not trust funds under … Click To Read Full Case Law Review...