Property Place, Inc. v. Ruback

The plaintiff commenced this action by filing a complaint in the nature of an interpleader seeking declaratory relief concerning the disbursement of funds received in escrow pursuant to a purchase and sale agreement between the defendants Stephen and Phyllis Ruback (sellers) and Anup K. Singh and Rekha Singh (buyers).2

After trial, the judge found that the Singhs and Rubacks agreed on the terms of a purchase and sale agreement for the residence in Canton owned by the Rubacks. A deposit of $11,000 was held in escrow by the plaintiff. The agreement contained a mortgage contingency clause…