Summary Judgment Affirmed in Suit involving Escrow Agreement

Summary Judgment Affirmed in Suit involving Escrow Agreement

Rob Klein and Richard Jones were successful in affirming a summary judgment secured on behalf of an attorney who served as an escrow agent to a transaction between a home buyer and a home builder. The attorney was sued by a private lender who loaned money to the buyer to be used in the purchase a home, claiming he was a third-party beneficiary of the escrow agreement regarding alleged improperly distributed funds. The defense was able to demonstrate that the private lender was neither a party to the escrow agreement nor a party to the contract between the buyer and the builder and, as a result, the attorney did not owe any duties to the lender.