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 escrow estate real software







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Real Estate News for YOU:

Market Wire - Inflazyme Pharmaceuticals Announces Escrow Closing of Private Placement
July 1, 2008 -- Inflazyme Pharmaceuticals Ltd. (NEX: IZP.H) announced today that it has closed in escrow a $300,000 non-brokered unit private placement (the...
 
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.
 
Before budgeting, remember who has to pay (Independent Press)
Recently, our fourth quarter property taxes were due. For those of us who pay directly (not via escrow), it's a meaningful day. Altogether this year you and I remitted $108 million to City Hall ($4.7 million more than 2007, a...
 






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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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