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Title Company / Escrow

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Homer2big

Member
What is the name of your state? PA
Selling brother's home as the Executor. Title company states they will hold Inheritance Tax in escrow. I requested they do so in an interest bearing account. They do not "normally" do that they said and would look into it.

I can require that, can't I?

Note: I have my brother's estate account earning 5%
 


seniorjudge

Senior Member
What is the name of your state? PA
Selling brother's home as the Executor. Title company states they will hold Inheritance Tax in escrow. I requested they do so in an interest bearing account. They do not "normally" do that they said and would look into it.

I can require that, can't I?

Note: I have my brother's estate account earning 5%
Sounds like a reasonable request to me.
 

nextwife

Senior Member
IT is not uncommon, due to the higher costs the title company incurs (due to year-end IRS reporting requirments and interest tracking) for the escrow fees to be higher when the escrow is held in an interest bearing account. In our market, for example, a basic hold back or earnest money escrow fee may be $50 to $100 bucks, and double or more that if held in interest bearing. It CERTAINLY can be done.
 

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