My question involves real estate located in the State of: Colorado
We recently had a real estate transaction fall through. It was listed through a Realtor. Earnest Money was collected and is currently held at a Trust Company.
The Realtor is claiming that his firm is entitled to half of the Earnest Money Deposit.
He is trying to get me to sign a "Earnest Money Release" form that splits the Money payable to me, and the second part to his firm.
Additionally he claims that this is a "Forfeiture of Payment", and that the deposit is split.
Is it typical for the Earnest Money to be split between the Seller, and the Realtors ?