Who is ultimately responsible for the funds after they have been paid over to the escrow company?

In the context of an escrow arrangement in a timeshare transaction, the broker holds ultimate responsibility for the funds after they have been paid over to the escrow company. This accountability is inherent in the broker's role as a facilitator of the transaction.

When funds are placed in escrow, the escrow company acts as a neutral third party to hold the funds until certain conditions of the transaction are met. However, the broker is the one who typically initiates the transaction and has a fiduciary duty to the parties involved. This fiduciary duty emphasizes the broker's obligation to ensure that the funds are handled correctly and released as per the terms agreed upon by the parties.

While the escrow company manages the funds, it does so under the instructions of the broker and the parties involved in the transaction. Therefore, any issues related to the funds, such as mismanagement or improper release, would legally implicate the broker.

The other parties involved – the purchaser and the developer – are generally more focused on their respective interests in the transaction rather than the oversight of the funds. The escrow company, while responsible for safeguarding the funds, is not ultimately accountable for what happens to them after they have been deposited and instructions to release them have been given. Thus, the broker remains the