Iervolino v. Best Built Homes Holding Corp.

This is an action in equity to compel payment of escrow funds.

The plaintiffs are the owners of houses who had sold a rear parcel subject to a purchase-money mortgage to the defendant Best Built Homes, a builder. By written agreement Best undertook to build a retaining wall to prevent drainage from the higher ground purchased by it. To secure this installation, Best’s attorney, the individual defendant, agreed to hold a fund in escrow, to be paid to plaintiffs in the event of Best’s default prior to March, 1967; it being further agreed that upon such default, plaintiffs would erect the wall…