Citizens For A Better Norwood

Tuesday, August 08, 2006

From the Cincinnati Enquirer:

According to Hamilton County Common Pleas Court records, the Burtons have withdrawn $174,912 from their $500,000 escrow account. The Gambles allowed $13,147 to be withdrawn from their $280,000 account to pay legal fees for the property valuation phase of the eminent-domain case. The Chase Manhattan Mortgage Corp. had $85,484 withdrawn from Horney's $233,000 account to cover the mortgage on his two-family rental house.

The amounts were approved by the court and taken out by court order. This does bring up some interesting questions. Who should pay back the escrow? Should Mr. Horney be forced to make mortgage payments on property that he was forced to hand over to Anderson? His tenants were forced to move and he was unable to collect the rent. Should the Gables be forced to pay for the legal fees on the property valuation issue? Likewise should Anderson be responsible? He placed the money in escrow to purchase the property. Should he expect a full refund of his money if he is not permitted to purchase the property? Is the City of Norwood liable?

Anyone have an opinion on this?