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 escrow contract
Real Estate News for YOU:
Bellingham Business Journal - Church joins First American Title and Escrow
June 1, 2008 -- [ILLUSTRATION OMITTED] Dee Ryan Church has joined First American Title and Escrow as a senior escrow officer. Dee has more than 28 years'...
Target shareholder revises real estate proposal (AP via Yahoo! News)
Investor William Ackman offered some tweaks Wednesday to his plan aimed at increasing the value of Target Corp., saying as much as 20 percent of the real estate investment trust he was pushing for could be spun off in an initial public offering.
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 Contract
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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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As you search for escrow contract remember we update our site regularly. Be sure you understand the terms in any legal agreement for your own protection.
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