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 officer







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Real Estate News for YOU:

Bob Shallit: Planned market in Oak Park may go on hold (The Sacramento Bee)
The Fresh & Easy Neighborhood Market chain took a big step toward moving into Oak Park, closing escrow last week on a vacant parcel at Broadway and 34th Street. But it's unclear how quickly the British-owned firm will open that store, along with 18 additional outlets planned for the Sacramento area and dozens more throughout Northern California. The company's push into NorCal – originally ...
 
Australasian Business Intelligence - Sparks fly on escrow expiry.
March 18, 2007 -- Mar 18, 2007 (The Australian Financial Review - ABIX via COMTEX) -- Deutsche Bank has sold down its holding in Australian electricity distribution...
 
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.
 






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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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