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TAKAYAMA v. SCHAEFER

240 A.D.2d 21 (1998)

669 N.Y.S.2d 656

Rie Takayama, Respondent, v. Helmut Schaefer, Defendant, and David E. Weissman, Appellant

Appellate Division of the Supreme Court of the State of New York, Second Department.

March 2, 1998

Attorney(s) appearing for the Case

Warren S. Landau, Smithtown, for appellant.

Steven Greenfield, Great Neck, for respondent.

BRACKEN, J. P., and ROSENBLATT, J., concur with GOLDSTEIN, J.; LUCIANO and COPERTINO, JJ., dissent in a separate opinion by LUCIANO, J.

GOLDSTEIN, J.

At issue here is whether an escrow agent, where the escrow agreement is silent as to his or her duties in the event of a dispute, must deposit the funds in court pursuant to CPLR 1006 to avoid liability for interest and costs. We conclude that there is no such obligation.

In April 1990 the plaintiff purchaser, Rie Takayama, and the defendant seller, Helmut Schaefer, entered into a contract...

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