Escrow

RECENT NEWS
The Hindu Business Line  Jan 29  Comment 
In a game of cricket, the umpire plays a crucial role; his presence ensures that there is a clear, fair game. An escrow account performs a similar function for a trade and is usually handled by banks...
Insurance Journal  Nov 23  Comment 
A Miami man has been arrested for alleged unlicensed insurance activity that resulted in the theft of at least $48,507 in escrow payments from 10 South Florida homeowners. The Florida Department of Financial Services’ (DFS) Division of...
Reuters  Jun 6  Comment 
* Sale of certain of assets and liabilities of Ciber Nederland to Manpower includes purchase price of $25 million
Mondo Visione  May 13  Comment 
The Securities and Exchange Commission today announced fraud charges against two attorneys accused of making undisclosed risky investments and in some instances outright stealing money they obtained in escrow accounts from small business owners...
Motley Fool  May 25  Comment 
An escrow account could mean any money held by a third-party, but the two most common applications both have to do with real estate.
Insurance Journal  Feb 10  Comment 
XL Group and RPS/Plus Cos. have expanded their underwriting partnership to bring professional liability insurance to title & escrow agents. According to Erin Fry, head of Programs for XL Group’s Select Professional business in North America, XL...
The Hindu Business Line  Jun 18  Comment 
In a major relief, the Multi Commodity Exchange has received shareholder approval to transfer promoter Financial Technologies’ stake into an escrow account, and sell it off if the promoter fails t...
The Hindu Business Line  Jun 12  Comment 
MCX may move the commodity market regulator Forward Markets Commission to lift the ban on launch of new contracts after amending the Articles of Association and transferring the promoters’ stake t...
The Hindu Business Line  Mar 28  Comment 
TN had slapped ₹2,400-crore sales tax notice




 
TOP CONTRIBUTORS

It is a financial instrument held by a third party on behalf of the other two parties in a transaction. The funds are held by the escrow service until it receives the appropriate written or oral instructions or until obligations have been fulfilled. Securities, funds and other assets can be held in escrow.

An escrow account can be used in the sale of a house, for example. If there are conditions to the sale, such as the passing of an inspection, the buyer and seller may agree to use escrow. In this case, the buyer of the property will deposit the payment amount for the house in an escrow account held by a third party. This assures the seller - in the process of allowing the house to be inspected - that the buyer is capable of making payment. Once all of the conditions to the sale are satisfied, the escrow transfers the payment to the seller, and title is transferred to the buyer.

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