Escrow

What is Escrow?

Escrow meaning A process wherein a party or entity, usually a title company, acts as a third party in a property transaction. The escrow officer transfers title to the property to the buyer only when certain payments have been made and other conditions set by the parties have been met. One of the conditions may be that the seller be able to transfer clear title to the buyer or lender.

 

reference: California Department of Child Services

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