- Escrow Agent
- An entity that has fiduciary responsibilities in the transfer of property from one party to another. Typically associated with selling or buying a home or other property, the escrow agent will secure the property and examine documents to make sure that the terms of the sale are met on each end, serving both the buyer and seller in the transaction.
An escrow agent may be a title company when it comes to selling a home; the title company will hold the deed in escrow until all of the terms of both the buyer and seller are met. The buyer may deposit the money for the purchase with the escrow agent, which serves to "validate" the transaction prior to last-minute closing terms.
Whether the escrow agent is a business or an individual, the purpose they serve is that of a neutral, trusted third party to transactions that may involve persons who never end up meeting each other.
Investment dictionary. Academic. 2012.
Look at other dictionaries:
escrow agent — A person (often an attorney) or a company that handles escrow arrangements. Also sometimes called a title agent. Category: Business, LLCs & Corporations Category: Real Estate & Rental Property Nolo’s Plain English Law Dictionary. Gerald N. Hill,… … Law dictionary
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escrow agent — An individual or company (e.g., an escrow or title company) that holds documents and funds in a transfer of real estate or other sale. The agent acts for and is paid by both the buyer and the seller … Business law dictionary
escrow — I noun conditional deed held in trust, conditional instrument, contingent deed held in trust, entrustment, instrument held until the performance of a condition, written instrument of contingency II index binder Burton s Legal Thesaurus. William C … Law dictionary
Escrow — is a legal arrangement in which an asset (such as cash, real property or other tangible assets) is deposited into safekeeping (e.g., a bank account) under the trust of a neutral third party (escrow agent) pending satisfaction of contractual… … Wikipedia
Escrow instructions — are written documents, signed by the parties giving them, which direct the escrow officer in the specific steps to be completed so the escrow can be closed. [ [http://www.desireerealestate.com/sellers/9.php Diseree Soteres, realtor, offciial web… … Wikipedia
escrow instructions — Written instructions, signed by a buyer and seller, telling an escrow agent what needs to happen before the deal (usually a real estate sale) closes. Category: Business, LLCs & Corporations Category: Real Estate & Rental Property Nolo’s Plain… … Law dictionary
agent — n 1: someone or something that acts or exerts power: a moving force in achieving some result 2: a person guided or instigated by another in some action where the heads of departments are the political...agent s of the executive, merely to execute … Law dictionary
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agent — A party appointed to act on behalf of a principal entity or person. In context of project financing, refers to the bank in charge of administering the project financing. Bloomberg Financial Dictionary For the purpose of the Agent Service, an… … Financial and business terms