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.
Puerto Rico is a United States territory located in the northeastern Caribbean Sea. It consists of the main island of Puerto Rico and several smaller islands. With a population of approximately 3.2 million people, Puerto Rico has a rich history, diverse culture, and stunning natural beauty. Instructions to Title Company to Cancel Escrow and Disburse the Funds held in Escrow can be tailored to different situations. Some possible variations and types of such instructions include: 1. Puerto Rico Residential Property Escrow Closure: This type of instruction is specific to canceling escrow and disbursing funds for residential properties in Puerto Rico. It may entail providing relevant details such as property address, escrow account number, and specific guidelines to follow for the disbursement process. 2. Puerto Rico Commercial Property Escrow Disbursement: These instructions are designed for canceling escrow and releasing funds held for commercial properties in Puerto Rico. The document should outline the necessary steps and legal requirements to comply with when disbursing the funds. 3. Puerto Rico Real Estate Development Escrow Cancellation: If the escrow involves a real estate development project in Puerto Rico, this type of instruction would encompass canceling the escrow agreement, providing justification for the cancellation, and directing the title company to disburse the funds accordingly. 4. Puerto Rico Title Transfer Escrow Closure: In cases where the purpose of the escrow was to facilitate the transfer of property ownership in Puerto Rico, these instructions would focus on canceling escrow and transferring the BS crowed funds to the designated parties involved in the title transfer. 5. Puerto Rico Legal Dispute Escrow Disbursement: This type of instruction would pertain to cases where BS crowed funds relate to a legal dispute or settlement in Puerto Rico. The document should state the resolution reached, authorize the title company to cancel the escrow, and provide guidance on how the funds should be disbursed. It is crucial when drafting any of these instructions to communicate clearly, include all necessary details, and conform to the relevant laws and regulations in Puerto Rico. Always consult with a legal professional or real estate expert for specific guidance and to ensure the document accurately reflects the intent of the parties involved.
