Not sure how your
purchase transaction was structured but the deposit should be held in escrow, preferably by a third party with very explicit instructions as to: 1) If, 2) how, 3) when, and 4) to whom, the deposit is to be released, e.g., to the seller or to the buyer, upon completion of each of the proscribed contracted escrow terms.
A broker is not a disinterested party, but if a broker is acting as an escrow agent then the broker is required to fulfill the country rules of administration thereof.
A broker is often a
member of the country's broker association which association typically has procedures to deal with conflicts so as to aid in resolution with their members and to maintain the reputation of the larger broker community.
Often if there is a conflict with an escrow account, the escrow agent is required to remands the issue and usually the funds to a civil authority to resolve. The civil authority may be an agency of the
government, or a court with specific jurisdication.
Recommend you
research the escrow
service requirements and conflict resolution procedures available in
France, if you can't resolve the issue in a mutual amicable basis. This is a very country specific and
contract specific matter.
As to
taxes being paid, indeed receipt of payment to the
government is of keen importance. I would think you might need more than just an invoice but also perhaps the receipt of the payment to the government by the seller that included the
taxes in the invoice.
Good luck / Bonne chance.
It started from the old French word escroue, a piece of paper or parchment as a deed to be held until a transaction was completed. Now it is better known as escrow, the system designed to ensure that everyone keeps to their contractual obligations during a business deal.
An Escrow Agreement Plans the Transfer in Detail
An escrow agent is not supposed to act as a mediator. Rather, the agent is more like a referee who simply follows and enforces the rules that are laid out in an escrow agreement. The goal of an escrow agreement is to plan the transfer, set the rules and definitions of what will be transferred, what will trigger the release of funds, and how to resolve any potential dispute between a buyer and seller.
An escrow agreement must fully detail the conditions of the escrow arrangement between the parties. It normally includes such information as the identity of the appointed escrow agent, definitions for any expressions pertinent to the agreement, the escrow funds and detailed conditions for the release of these funds, the acceptable use of funds by the escrow agent, the duties and liabilities of the escrow agent, the escrow agent’s
fees and expenses, and the jurisdiction and venue in the event of a
legal action.
Solving Disputes: Interpleader Action Explained
Surprises happen. If you find yourself in a position where closing funds are tied up in escrow, and you and the other party are in a dispute that prevents the funds from being released, what happens next?
Your escrow agent is caught in the crosshairs. Rather than face lawsuits from you and the other party, they will most likely file interpleader action which hands the funds over to the courts:
“An interpleader action requires the intermediary to place the
money into the court’s custody. The intermediary or escrow agent is then dismissed as a party to the interpleader action and the defending parties must litigate and argue for their rights to the
money among themselves”
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