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 guaranty title
Real Estate News for YOU:
German Government Leads Talks for Hypo Real Estate Bailout (Bloomberg)
Oct. 5 (Bloomberg) -- The German government led talks to salvage a 35 billion-euro ($49 billion) bailout plan for Hypo Real Estate Holding AG today after the ailing property lender said commercial banks withdrew their support.
Lucia Mar finalizes purchase of Oceano center (Arroyo Grande Times Press Recorder)
The Lucia Mar Unified School District is the official owner of the Oceano Community Center. The district closed escrow on the $1.7 million property this week, essentially assuring the embattled center’s future for years to come.
Wheatfield to vote on status of tax receiver's job (The Buffalo News)
WHEATFIELD -- Voters will decide Tuesday whether to
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Guardian Title & Guaranty Agency, Inc. Realtors. Lenders. Consumers ... has been serving the Northeast Ohio title and escrow industry for over 40...
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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 guaranty title remember we update our site regularly. Be sure you understand the terms in any legal agreement for your own protection.
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