Escrow

Escrow is an arrangement in which money, documents, or other assets are held by a neutral third party until specified conditions of a transaction are satisfied. In a property transaction, escrow arrangements can provide additional security because the funds are not released to one party until agreed requirements are fulfilled. The availability and legal structure of escrow services differ between jurisdictions. Buyers should understand who controls the escrow, what conditions trigger release, and what happens if the transaction fails.

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