§ 956. Additional liabilities of mortgage investing institutions. 1. In addition to any other remedies permitted by law, a mortgagor whose taxes are to be paid by means of a real property tax escrow account pursuant to this title may bring an action against the mortgage investing institution maintaining such account for the mortgagor under the provisions of this section if payments for real property taxes have not been made for one hundred eighty days after the date such taxes have become due and payable. If a court shall find, after considering the circumstances of the failure of a mortgage investing institution to pay the real property taxes of a mortgagor pursuant to an escrow agreement, that such failure was due to the negligence or intentional acts of the mortgage investing institution, its agent, or both, the court may award the mortgagor injunctive relief and liquidated damages in an amount equal to three times the tax not paid within such one hundred eighty day period but in no event greater than six thousand dollars.
2. In addition to any other violations provided by law, if a mortgage investing institution through negligence or intentional acts fails to pay real property taxes for more than one hundred eighty days after the date such taxes become due and payable, it shall constitute a separate violation of this title.
Copyright ©2024 LegalFix. All rights reserved. LegalFix is not a law firm, is not licensed to practice law, and does not provide legal advice, services, or representation. The information on this website is an overview of the legal plans you can purchase—or that may be provided by your employer as an employee benefit or by your credit union or other membership group as a membership benefit.
LegalFix provides its members with easy access to affordable legal services through a network of independent law firms. LegalFix, its corporate entity, and its officers, directors, employees, agents, and contractors do not provide legal advice, services, or representation—directly or indirectly.
The articles and information on the site are not legal advice and should not be relied upon—they are for information purposes only. You should become a LegalFix member to get legal services from one of our network law firms.
You should not disclose confidential or potentially incriminating information to LegalFix—you should only communicate such information to your network law firm.
The benefits and legal services described in the LegalFix legal plans are not always available in all states or with all plans. See the legal plan Benefit Overview and the more comprehensive legal plan contract during checkout for coverage details in your state.
Use of this website, the purchase of legal plans, and access to the LegalFix networks of law firms are subject to the LegalFix Terms of Service and Privacy Policy.