Are you confused or curious about escrow?



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Escrow is a legal arrangement whereby a thing (often money, but sometimes other property such as art, a deed of title, or software source code) is delivered to a third party (called an escrow agent) to be held in trust pending a contingency or the fulfillment of a condition or conditions in a contract. Upon that event occurring, the escrow agent will deliver the thing to the proper recipient, otherwise the escrow agent is bound by her or his fiduciary duty to maintain the escrow account. Read more on data escrow







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Real Estate News for YOU:

Citigroup Says Concerned by U.A.E. Banks' Real Estate Holdings (Bloomberg)
Nov. 19 (Bloomberg) -- Holdings by United Arab Emirates banks in the construction and real estate industries and the affect they may have on asset quality and the cost of equity is a concern, Citigroup Inc. said.
 
Birch Terrace by Silverstone Communities Proves Affordable Price and Desirable Location Can Still Sell Homes Despite ... (Business Wire via Yahoo! Finance)
PLEASANTON, Calif.----Silverstone Communities today announced the completion of their new home community, Birch Terrace, near downtown Pleasanton, California. This new community of 45 townhomes opened in June 2007 and closed escrow on the final home in November 2008.
 
Operation Snackpacks helps Newport students (Newport News-Times)
Volunteer residents have brought their efforts together and have recently started a program aimed at providing help to Newport schools' students who may be low income or suffering from financial hardships.
 






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Escrow is not just a term for real estate. While escrow is best known in the context of real estate, escrow companies are also commonly used in the transfer of higher value properties like websites and businesses. It is even used in auction sites where two parties unknown to each other are making a transaction and there is no previous history. In addition there can be lawyer transactions with clients that involve escrow. Real estate agents are in some jurisdictions considered to act as escrow agents when they accept deposits for the purchase of real property.

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