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Once the instructions are signed by both parties to the escrow, neither party may unilaterally change those instructions. If both parties agree to change instructions then they may be altered.
Joint Escrow Instructions means any joint written instructions to Escrow Agent executed by both the Company and DLJMB. Joint Escrow Instructions means a letter executed by Seller and Buyer to the Closing Agent confirming that all conditions to Closing have been satisfied or waived by the parties.
The principal (seller, buyer or lender) in a transaction can alter escrow instructions. The changes must be agreed upon by all parties involved in the transaction. The escrow officer ensures everyone involved consents to changes made.
Escrow instructions which modify the intentions stated or implied in the purchase agreement need to be written, signed and returned to escrow by both the buyer and seller.
This third person holds the money or items for disbursement upon the happening of a specified event or the performance of a specified condition. Simply stated, the escrow holder impartially carries out the written instructions given by the principals.