NOTICE FROM CAPITAL ONE BANK RE INTEREST ON MASTER ESCROW ACCOUNT

McGeehan Pascale, PLC
Attorneys & Councellors at Law
11211 Waples Mill Rd #210
Fairfax, VA 22030
703.273.5303

Current Developments In the BLACKACRE 1031 RECEIVERSHIP

Author

John P. McGeehan is the managing member of McGeehan Pascale, PLC. His practice focuses on business structures, especially new, emerging, small businesses and not for profit organizations, all business transactions, employment law, real estate, commercial leasing, estate planning and litigation before administrative agencies and all courts.

NOTICE FROM CAPITAL ONE BANK RE INTEREST ON MASTER ESCROW ACCOUNT

10/29/2020

Interest is paid on the Master Escrow Account. This is deposited into the Blackacre operating account and I have generally used that to pay administrative expenses. To date I have not used claimant’s money, except to transfer fees that were earned. Capital One Bank notified me on October 27, 2020 of the following changes that will affect the Blackacre Capital One account ending in XXXX within 3 business days: This account is only approved for .75% APY up to $5M in balances. This rate is guaranteed for 3 months, then subject to change at any time.

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11211 Waples Mill Rd #210
Fairfax, VA 22030

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