Heritage Building Property, LLC v. Prime Income Asset Management, Inc.

BARNES, J.,

for the Court.

¶ 1. This case involves a contractual dispute over the sale of the “Heritage Building” in downtown Jackson, Mississippi. The sellers are The Heritage Building Property, LLC; Jenkins Heritage, LLC; and Elverton Investments, LLC (collectively, the “Sellers”). The buyers are Prime Income Asset Management, Inc. and TCI Heritage Building, Inc. (collectively, the “Buyers”). Following the failure to consummate the sale of the building, a dispute arose as to whether the Buyers were entitled to the return of a $100,000 deposit they had placed in escrow. The escrow agent,…