(a) When an escrow agent has been established in connection with the sale of a condominium unit, the escrow agent shall not transfer title or distribute funds until there has been deposited in escrow an acknowledgment from the buyer of a copy of the receipt of the certificate of inspection or a copy of the certificate of compliance.
(b) If the Certificate of Inspection and/or Compliance from the Director or Building has required that certain violations be corrected prior to occupancy, then the Escrow Agent shall not transfer title or distribute funds until there has been deposited in escrow an acknowledgment from the buyer of compliance with the Certificate issued by the Director.
(Ord. 1999-26. Passed 3-22-99.)