Rosenthal Law Group was recently successful in obtaining purchase deposit made in a failed purchase of commercial property in Palm Beach County, Florida. Rosenthal Law Group's client entered into an agreement to sell a commercial property. In connection with the sale of the property, the purchaser deposited $200,000 to be held in escrow. The purchase failed to close and the Firm's client demanded the deposit. The purchaser disputed the right to the deposit. Rosenthal Law Group filed suit in Palm Beach Circuit Court seeking the deposit. After engaging in limited discovery, the purchaser conceded and agreed to turn over the deposit to Rosenthal Law Group's client.
The Firm has represented both purchasers and sellers in deposit disputes. Very often there are genuine legal and factual disputes that, if properly asserted, can make a difference between obtaining or losing the deposit. Careful attention must be given to the contract terms and the events leading up to the dispute. Parties to a real estate purchase agreement should consider seeking legal advice before the dispute has escalated to litigation to maximize the opportunity to obtain the deposit and avoid litigation if at all possible.
Rosenthal Law Group has received an AV® from Martindale-Hubbell® for premier professional and ethical standards, and is recognized throughout Florida as a high-quality business litigation firm. The firm is committed to constructing cases that best serve the clients' interests, and the team has the knowledge, experience, and creative ability required to handle complex business transactions and litigation. Contact Alex P. Rosenthal, Esq. if you have a deposit dispute you would like to discuss.