Called my lawyer to ask him if I would be in violation of anything if I was O/Nd a check and a receipt and delivered it to a person who owned a house that I closed for someone who had been buying on a land contract from this person. The 'buyer' was able to get a conventional loan, and this will be the proceeds to the previous owner. While I was talking to him, we got into CRESPA a little and he said I would NOT be in violation of the CRESPA rules if I was to pick up a CHECK or M/O for any amount from a borrower, as long as I was not the payee. I could not pick up CASH, though. The act means I couldn't have any "constructive receipt", such as an escrow account. Any imput on this from a CRESPA Notary? Should I find a new attorney?
Hope this question is clear.
Rick
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