Escrow Services

An escrow is a financial arrangement whereby a third-party organization is entrusted to hold and regulate the payment of the funds between two parties transacting.

Escrow is best recognized in real estate, particularly in mortgages where mortgage organizations crate an account in escrow to be utilized in the payment of property insurance and tax across the mortgage period.

An agent in escrow is entrusted with the responsibility of accounting precisely for the funds and ensuring that the funds are utilized exclusively for the intended purpose.

This service is often used by investors to eliminate financial risks and is essential when closing business deals, especially when the two trading parties are from different geographical jurisdictions. This service covers a variety of risks like:

Where one of the parties involved doubts the willingness of the other party to meet obligations. The escrow agent is entrusted with the funds until both parties are contented with the transaction.

Where the parties are experiencing a challenge of valuing an asset. The differential price may be held by escrow until both parties measure/agree on the performance.

Where the trading parties desire that the transaction be carried out in accordance with pre-determined series of events. The funds are entrusted with the agent and will only be released in the sequence that was agreed on.

Polimnios & Antoniou Law provides a comprehensive variety of escrow services constituting holding of funds in escrow and drafting of agreements.

Contact Us Today to discuss your legal case.