An escrow may be terminated according to the escrow agreement when the parties have performed the conditions of the escrow and the escrow agent has delivered the items to the parties entitled to them according to the escrow instructions. An escrow may be prematurely terminated by cancellation after default by one of the parties or by mutual consent. An escrow may also be terminated at the end of a specified period if the parties have not completed it within that time and have not extended the time for performance.
Kentucky Instructions to Title Company to Cancel Escrow and Disburse the Funds held in Escrow is a legal document that instructs a title company to terminate an escrow agreement and release the funds held in escrow to the designated party. This document is commonly used in real estate transactions in Kentucky when certain conditions or contingencies have been met, and the parties involved wish to cancel the escrow arrangement. Keywords: Kentucky, Instructions, Title Company, Cancel Escrow, Disburse Funds, held in Escrow, legal document, real estate transactions. Different types of Kentucky Instructions to Title Company to Cancel Escrow and Disburse the Funds held in Escrow: 1. Residential Property Escrow Cancellation: This type of instruction is specifically designed for canceling escrow and disbursing funds in residential real estate transactions in Kentucky. It includes relevant clauses and provisions specific to residential properties. 2. Commercial Property Escrow Cancellation: Instructions tailored for the termination of escrow agreements and the disbursement of funds for commercial properties in Kentucky. 3. New Construction Escrow Cancellation: This type of instruction is used when canceling escrow and releasing funds held for new construction projects in Kentucky. It may involve specific clauses related to construction milestones, inspections, or licensing requirements. 4. Escrow Cancellation due to Financing Contingency: These instructions are utilized when canceling escrow and disbursement of funds due to the non-fulfillment of a financing contingency in the purchase agreement. It provides guidance on releasing funds to the appropriate party (i.e., buyer or seller). 5. Voluntary Escrow Cancellation: In certain instances, both parties may mutually agree to cancel the escrow and disburse the funds held. This instruction document outlines the terms and conditions under which the escrow will be canceled and funds will be disbursed to the designated recipients. 6. Escrow Cancellation for Non-Performance: This type of instruction is used when one party fails to fulfill their obligations as outlined in the purchase agreement, giving the other party the right to cancel the escrow and disburse the funds to the aggrieved party. These various types of Kentucky Instructions to Title Company to Cancel Escrow and Disburse the Funds held in Escrow cater to different scenarios and ensure that the specific requirements of the respective real estate transactions are met.
