Summary
In Illinois, if an escrowee is non-responsive, send a formal demand letter detailing the issue and payment deadline. If unresolved, file a complaint with the Illinois Department of Financial and Professional Regulation and consider litigation for breach of fiduciary duty. A demand letter should include your contact information, the date, the escrowee’s contact information, a clear statement of the issue, the amount owed, a payment deadline, and consequences of non-compliance.Full Conversation
Remedies for an escrow that escrowee is non responsive
In Illinois, if an escrowee is non-responsive, you can consider the following remedies:
- Send a Demand Letter: Formally request action or payment from the escrowee.
- File a Complaint: Contact the Illinois Department of Financial and Professional Regulation.
- Initiate Litigation: Sue for breach of fiduciary duty if necessary.
Have you already sent a formal demand letter to the escrowee?
no
You should start by sending a formal demand letter to the escrowee, detailing the payment request and setting a clear deadline. If there's no response, you can file a complaint with the Illinois Department of Financial and Professional Regulation, and consider litigation for breach of fiduciary duty.
Would you like more information on how to draft a demand letter?
yes
To draft a formal demand letter, consider including the following key points:
- Your contact information.
- The date.
- The escrowee’s contact information.
- A clear statement of the issue and the amount owed.
- A deadline for payment (e.g., * business days).
- Consequences of non-compliance (e.g., litigation).
Would you like a sample template to help you get started?
yes
Here's a sample template for your demand letter:
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[Your Name]
[Your Address]
[City, State, ZIP Code]
[Email Address]
[Phone Number]
[Date]
[Escrowee’s Name]
[Escrowee’s Address]
[City, State, ZIP Code]
Dear [Escrowee’s Name],
RE: Demand for Payment of Clean Out Fee
I am writing to formally request payment of the clean out fee owed in connection with [property address or transaction details]. Despite multiple attempts to resolve this matter in good faith, the payment remains outstanding.
Amount Owed: $[amount]
Please remit the payment by [specific deadline, e.g., December *, *]. Failure to comply will result in legal action, including litigation to recover fees and additional costs.
Thank you for your prompt attention to this matter.
Sincerely,
[Your Name]
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