(a) No person, agent, firm, or corporation shall sell, convey, exchange or otherwise transfer by deed, lease, land contract, or otherwise, any interest in any real property located within the corporate limits of the Village, which is supplied with water services by the Village, without holding five hundred dollars ($500.00) in escrow until such proof of payment has been furnished to the escrow agent by the water department
(b) Any party to a sale, exchange, conveyance or transfer or their agent, may request the Village to read the meter at that property and to render within ten days following the date of the request a final bill for all outstanding water charges. Such request shall be made at least fourteen days prior to the transfer of the title of said property.
(c) No person, agent, firm, or corporation acting in the capacity of escrow agent in any real estate transaction involving the sale of any real property or interest therein located within the corporate limits of the Village, which is serviced or supplied with water services by the Village, shall disburse any funds until the provisions of subsection (a) hereof have been complied therewith.
(1) The property owner (seller) is responsible to ensure that five hundred dollars ($500.00) be held in escrow with the title company and provide proof as evidence in the purchase agreement.
(2) Any remaining balance not paid by the escrow account or proceeds of sale, will be the sole responsibility of the new property owner (buyer) once property is transferred.
(d) The provisions of this section shall not bar or prejudice the rights the purchaser may have against the prior owner of the property for reimbursement of any charges as provided herein incurred prior to the transfer of title for the property or any other rights that the purchaser may have against the prior owner of the property, subject to the provisions of this section.
(Ord. 1786-23. Passed 11-13-23.)