The Elements for the Claim of Breach of Escrow Agreement

In Nevada, the elements for the claim of Breach of Escrow Agreement are:

  • Defendants [NAMES] are escrow agents (the “Escrow Agents”);
  • On [DATE], Plaintiff entered into a written contract (the “Agreement”) for the purchase of real property at [ADDRESS] and more particularly described as [PROPERTY DESCRIPTION] (the “Property”) from Defendant [NAME OF SELLER] (the “Seller”);
  • Plaintiff and Seller named the Escrow Agents as escrow agents for the sale of the Property;
  • Pursuant to the Agreement, the Escrow Agents agreed to retain certain funds from Plaintiff on deposit until such time as Seller could deliver a good and marketable deed to the Property, as well as other conditions of the Agreement;
  • The Escrow Agents knew the Agreement required Seller to provide Plaintiff with a title insurance policy showing that there were no encumbrances against the Property;
  • On [DATE], Plaintiff delivered the sum of $[AMOUNT] to the Escrow Agents as and for [ITS/HIS/HER] required escrow deposit (the “Escrow Deposit”);
  • Pursuant to the terms of the Agreement, Escrow Agents accepted and held the Escrow Deposit for the benefit of Plaintiff;
  • A title search disclosed defects in title to the Property, which defects were never cured;
  • Plaintiff deposited the Escrow Deposit with Escrow Agents to be held by Escrow Agents and paid out only on performance of all conditions required of Seller by the Agreement;
  • Seller never performed [ITS/HIS/HER] obligations under the Agreement;
  • Notwithstanding Seller’s failure to perform [ITS/HIS/HER] obligations under the Agreement, Escrow Agents misappropriated and wrongfully converted the Escrow Deposit without Plaintiff’s authority or consent, by delivering and paying the Escrow Deposit to Seller;
  • In wrongfully paying and delivering the Escrow Deposit to Seller, Escrow Agents acted in wanton disregard to Plaintiff’s rights;
  • On [DATE], Plaintiff made written demand on Defendants for the return of the Escrow Deposit. Defendants failed and refused and continue to fail and refuse to comply with the demand;
  • Plaintiff has suffered damages;
  • Plaintiff is entitled to an award of punitive damages; and
  • Plaintiff is entitled to an award of attorney fees and costs as damages.

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By NLB

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