A lawsuit filed in Palm Beach County Circuit Court seeks the return of a $1.23 million deposit placed on a $4.1 million condominium unit at Tower 105 Residences in downtown Boca Raton.
Details of the Complaint
Dr. Sajid Malik filed the suit against Via Mizner Owner III, LLC, the developer behind The Residences at Mandarin Oriental, and escrow agent First American Title Insurance Company. Malik is seeking repayment of the deposit with interest and legal fees and is asking the court to require First American to pursue a $410,000 surety bond.
Deposit and Timeline
According to the complaint, First American released $820,000 of the deposit to the developer in 2022 and released the remaining $410,000 after a surety bond was issued. The contract estimated completion in December 2022 and required delivery within three years of that date.
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