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 service
Real Estate News for YOU:
Property tax delays causing problems (FOX 28 South Bend)
87-year-old Jack Brehmer is tying up loose ends as he gets ready to go on vacation Monday. "I'm just trying to get by and get out of town," says Jack. "I won't be coming back until January 10th." One
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.
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...
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Escrow.com
Domain escrow services offered by a licensed and accredited escrow company.
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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