What Lawyers Must Know Before Acting As Escrow Agents

Law360 (April 11, 2019, 2:08 PM EDT) -- There is a strong case to be made that the moment an attorney agrees to serve as an escrow agent for a client, the attorney assumes some of the most important obligations attorneys are charged with in the legal profession. 

All too often, however, an attorney who serves as an escrow agent for a client is unaware of these obligations. Rather, the attorney views the escrow agent role as purely ministerial and ancillary to the underlying substantive work that he or she is performing for the client. 

The following scenario, and countless variations of it, play out every day in the...

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