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BAQUERIZO v. MONASTERIO

2010-11804.

90 A.D.3d 587 (2011)

933 N.Y.S.2d 869

2011 NY Slip Op 8890

GIOVANNI BAQUERIZO et al., Appellants, v. VIVIANA MONASTERIO, Respondent.

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

Decided December 6, 2011.

Ordered that the order is affirmed, with costs.

An escrow agent "not only has a contractual duty to follow the escrow agreement, but additionally becomes a trustee of anyone with a beneficial interest in the trust" (Takayama v Schaefer, 240 A.D.2d 21, 25 [1998]). Accordingly, the escrow agent has a duty not to deliver the property held in escrow to anyone except upon "strict compliance with the conditions imposed" in the...

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