Whenever an affidavit and notice of broker’s lien has been recorded, the record owner of the commercial real estate or the tenant in case of a lien upon the leasehold estate may have the lien released by depositing funds equal to the full amount stated in the notice of lien plus 10% to be applied towards any sums awarded the broker under § 2611 of this title. These funds shall be held in escrow by such person and by such process which may be agreed to by the parties, either in the brokerage agreement or otherwise, for the payment to the broker or otherwise for resolution for their dispute or, in the absence of any such mutually agreed person or process, the funds may be deposited with the Superior Court by the filing of an interpleader. Upon such deposit of funds by interpleader, the comme
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Whenever an affidavit and notice of broker’s lien has been recorded, the record owner of the commercial real estate or the tenant in case of a lien upon the leasehold estate may have the lien released by depositing funds equal to the full amount stated in the notice of lien plus 10% to be applied towards any sums awarded the broker under § 2611 of this title. These funds shall be held in escrow by such person and by such process which may be agreed to by the parties, either in the brokerage agreement or otherwise, for the payment to the broker or otherwise for resolution for their dispute or, in the absence of any such mutually agreed person or process, the funds may be deposited with the Superior Court by the filing of an interpleader. Upon such deposit of funds by interpleader, the commercial real estate shall be considered released from such lien or claim of lien. Upon written notice to the broker that the funds have been escrowed or an interpleader filed, the broker shall within 10 business days file in the same office of the recorder of deeds where the affidavit and notice of broker’s lien was filed a document stating that the lien is released, and the commercial real estate released, by an escrow established pursuant to this section or by interpleader. If the broker fails to file such document, the person holding the funds may sign and file such document and deduct from the escrow the reasonable cost of preparing and filing the document. Upon the filing of such document, the broker shall be deemed to have an equitable lien on the escrow funds pending a resolution of the broker’s claim for payment and the funds shall not be paid to any person (except for such payment to the holder of the funds as aforesaid) until a resolution of the broker’s claim for payment has been agreed to by all necessary parties or ordered by a court having jurisdiction.
Delaware § 2609 (Escrow of lien amount [For application of this section, see 79 Del. Laws, c. 18, § 2]) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.