An escrow agreement for a real estate transaction like sale or purchase of property is a commercial contract executed by and between the owner of land, purchaser or developer of that land and an escrow agent usually a bank which agrees to hold money on behalf of the parties and release the same after successful completion of the said transaction. This document essentially outlines the terms and conditions between parties involved in an escrow. It includes such information as language specifying the appointed escrow agent, and specific sections for each of the following: descriptions of any definitions pertinent to the agreement, the escrow fund and release of funds, and the acceptable use of funds by the escrow agent. Here under you could view a sample escrow agreement and have one drafted for your business or real estate transaction.
