By: Daily Record Staff//September 29, 2023
By: Daily Record Staff//September 29, 2023//
New York State Advisory Committee on Judicial Ethics
Former foreclosure referee
IOLA account funds
Background: The inquiring attorney is running for full-time judicial office and is starting to prepare for the transition. He is currently serving as a referee in foreclosure proceeding and expects to still have money in an IOLA account by the end of the year. The attorney asks if it is permissible to continue to hold those specified funds in escrow after assuming judicial office.
Opinion: The Committee concluded that where the remaining tasks are essentially ministerial and do not involve legal work, a new full-time judge may complete their service as a referee in foreclosure, pursuant to a court appointment that was made before the judge assumed the bench. Thus, the judge may, if necessary, conduct closings after the beginning of the year, hold the proceeds in escrow pending a court order directing their release, and seek a court order regarding disposition of unresolved monies remaining in an escrow account.