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 southland title and escrow
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Real Estate News for YOU:
Dubai International Financial Centre to Buy Dubai Real Estate (Bloomberg)
Oct. 5 (Bloomberg) -- DIFC Investments, a unit of Dubai International Financial Centre that owns stakes in firms including Deutsche Bank AG, said it will start a fund to invest in real estate in Dubai and the United Arab Emirates.
1031 Exchange Specialists, Accommodator Finance Company, Exhibiting at the CEA 53rd Annual Education Conference (PRWeb via Yahoo! News)
Kevin Levine, Vice President of Accommodator Finance Company, will be a featured exhibitor at the 53rd Annual CEA Conference, The conference takes place from Thursday, October 2nd thru the 5th at the Long Beach, CA Convention Center in order to educate escrow professionals on such issues as compliance, fraud, and operational improvements.
Eagle Trace developers accused of misusing $474K; one says Ira Hatch advised him (Vero Press Journal)
Eagle Trace developers Richard F. Rendina and Stephen Siegel took $474,410 in home deposits from their company's escrow account and used it to pay subcontractors and bills, according to a Sheriff's Office complaint affidavit.
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Southland Title & Escrow Co, Inc. is a locally owned, independent full service title 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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