§449-16.5  Earnings on funds.  In all
escrow agreements involving the purchase of real property or appurtenances
thereon and in which an escrow depository acts as a fiduciary party holding the
funds in escrow, any earnings on such funds during the holding thereof shall
accrue to the credit of the purchaser in such transaction unless otherwise
instructed in writing by the purchasers and sellers in the escrow. [L 1974, c
95, §2; am L 2001, c 184, §6]



 



Case Notes



 



  Interest accrues only where funds are in hands of a third
party and not where payment is made to the seller.  60 H. 467, 591 P.2d 1060.