Are you confused or curious about escrow?

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 what is an escrow account what is an escrow account Real Estate News for YOU: Extra Listings: Real Estate Settlement Procedures Act Home Page - HUD FAQ's for Homebuyers. FAQ's about Escrow Accounts. Know Your Borrower's Rights. Your Rights and the Responsibilities of the Mortgage Servicer... HUD RESPA FAQs by Consumers about Escrow Accounts About Escrow Account Cushions Does RESPA require lenders to maintain a cushion? NO. What is an escrow account? What is an escrow account? getLoanUpdate.com Welcome to getLoanUpdate.com... Legal Definition of Escrow Account The Legal Term * Escrow Account * Defined & Explained... 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. Information on Escrow Escrow Information Escrow Agent Escrow Software Escrow Contract As you search for what is an escrow account remember we update our site regularly. Be sure you understand the terms in any legal agreement for your own protection. Copyright 2005 Understanding-Escrow.com