Q: I'm being asked to give acknowledgement of satisfaction form by escrow firm before getting paid on my lien against condo
Escrow firm says I need to give them acknowledgement of satisfaction form before they pay me on my lien. Doesn't make sense to me to give them a form saying I got paid when I haven't. The person who owes me the money has sent me a check that would satisfy the lien but the escrow firm told me to disregard that. I would rather get the money that I'm owed first before giving escrow company the acknowledgement of satisfaction form. Can the person who owes me the money pay me with a check or do I have to get paid through escrow because I have a lien on the property?
A: Pretty standard for an Escrow Company to get documents signed before the deal closes. If you really feel uncomfortable, tell them you want a face to face exchange of your signature for their check. The problem is that the money may not be in the Escrow account until it closes, not now.
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