“Is it legal for a buyer, who is a realtor, to release the seller from escrow with him and then on the escrow papers assign the seller as seller to a third party buyer, in order to by pass taxes and make a commission? Am I being taken?”
I’m not sure I understand exactly what the Realtor has done in your situation. Are you the seller? Are you getting any less money than you expected to under the original deal?
I would suggest contacting the state agency that licenses real estate professionals in your state. Most have a consumer help line which can get all the necessary information on your case and let you know whether there is something wrong.