escrow instructions


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escrow instructions

n. the written instructions by buyer and seller of real estate given to a title company, escrow company or individual escrow in "closing" a real estate transaction. These instructions are generally prepared by the escrow holder and then approved by the parties and their agents. (See: closing, escrow)

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By mistake, under escrow instructions, he also received some un-related fund in his account.
This integration allows Summit to automatically populate escrow instructions or escrow related documents directly to TrackMyFile.com via a simple process.
"The escrow instructions describe the terms of the payment arrangement between the payer and the payee and direct First National regarding the de livery of the escrowed documents.
Accordingly I will allow the sale of the house as long as the plaintiff is informed of the terms and given a copy of the escrow instructions. But the net proceeds of any sale must be held in your trust account, Mr.
1031(k)-1(g) (6) (the language of which is found verbatim in many deferred exchange escrow agreements), the early release may violate the escrow instructions. Nonetheless, it is quite common for escrow officers (who, generally, are not versed in the Sec.
After expressing concern to a conventional appraiser that the assignment was two weeks past the date of its expected completion, the appraiser replied, "Well, according to your escrow instructions, it doesn't have to close for another 10 days...so what is the problem?"
I replied, "It is my understanding that you are provided escrow instructions for appraisal information only (i.e., sales price, seller concessions, etc.).
When escrow instructions say "on or before a certain date," they often mean "before." When everyone in the company, including the loan officer, the processor, the appraiser, the underwriter and the closer are looking at lock-in expirations and escrow dates to see how long they can take to do their jobs, you have delays.
Even if the escrow officer did not have actual knowledge that the broker was defrauding the lender, the lender's escrow instructions may be sufficient to hold the escrow company responsible on a breach-of-contract claim.
If the escrow instructions specifically or impliedly required the escrow company to verify signatures, a breach of contract or negligence claim also might be available.
If the escrow instructions required direct mailing of the VOD and VOE, a breach-of-contract action may also be available.
2d 160 [1968].) According to Lee, the limited responsibility concept is based on the principle that "no liability attaches to the escrow holder for failure to do something not required by the terms of the escrow or for the loss incurred while obediently following his escrow instructions." (264 Cal.