Resolving Interpleader Actions
By directing your escrow and foreclosure interpleader files to Hershorin & Henry, LLP, our experienced team of attorneys and staff will resolve your most complex interpleader actions. To have Hershorin & Henry, LLP, handle your interpleader matters, simply send your foreclosure surplus or escrow files and funds to our office 10 days after sending a notice to the parties of the action.
Our friendly and knowledgeable staff is always available to speak with you regarding any additional information. We look forward to having the opportunity to work with you.
Top Five Reasons To Interplead Funds
- Interpleading funds releases the escrow company from further liability.
- Helping customers claim their money builds loyalty and trust.
- The money is held in trust and must be treated accordingly. As an escrow, the escrow company cannot keep, co-mingle or use the money (Financial Code §17409).
- The California insurance commissioner is keeping a watchful eye on title insurance companies, escrow companies and their practices. Over the past several years, severe fines and license restrictions have been imposed against title insurers for violations.
- Penalties against the agent and the escrow company; fines imposed on the agent and the escrow company ($2,500+ for each violation); license revocation (agent, branch and company); and jail time