Escrow: An account specifically for the purpose of holding funds from a timeshare buyer and a seller. A third-party presence overseeing transfer of funds can guarantee a degree of security during the timeshare sale closing process.

 

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Escrow: An account specifically for the purpose of holding funds from a timeshare buyer and a seller. A third-party presence overseeing transfer of funds can guarantee a degree of security during th . . . View Full Definition

Escrow Fee: A fee covering all the usual escrow services except for title insurance. The fee is normally determined by the amount of money involved in the transaction.

Escrow Instructions: In a sales transaction, a writing signed by buyer and seller that details the procedures necessary to close a transaction and directs the escrow agent how to proceed. Sometimes the buyer and . . . View Full Definition

Lenders Escrow Instructions: A lenders written instructions to the escrow company stating the conditions which must be met before the deed of trust can be recorded.

Canceling Escrow: Providing written notification that an escrow is to be terminated, must be done by mutual consent of all parties to the escrow and in accordance with governing agreements.

Final Escrow Instructions: Statements prepared by the escrow agent which reflect the final figures and instructions required to close escrow.

Escrow Agent-Officer: An individual qualified to perform all the steps necessary to prepare and carry out escrow instructions. Tasks include obtaining title insurance, securing payoff demands, prorating taxes, in . . . View Full Definition

Amendment To The Escrow Instructions: A change to escrow instructions requiring the agreement of both buyer and seller.

Escrow Agent: An escrow agent is the person or group that holds certain of your assets in an escrow account while you negotiate the final terms of a contract. For example, if you are buying a home, the es . . . View Full Definition

Refunding Escrow Deposits (Reds): A financial instrument involving a forward purchase contract that obligates investors to buy bonds at a certain rate when issued. The future date coincides with the first optional call date . . . View Full Definition