Rhode Island Escrow Agreement between The TriZetto Group, Inc., the Finserv Securityholders, Stuart Schloss and Bankers Trust Co.
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How to fill out Escrow Agreement Between The TriZetto Group, Inc., The Finserv Securityholders, Stuart Schloss And Bankers Trust Co.?
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FAQ
The escrow agreement is a contract entered by two or more parties under which an escrow agent is appointed to hold in escrow certain assets, documents, and/or money deposited by such parties until a contractual condition is fulfilled.
An escrow agreement is a contract that outlines the terms and conditions between parties involved, and the responsibility of each. Escrow agreements generally involve an independent third party, called an escrow agent, who holds an asset of value until the specified conditions of the contract are met.
Escrow agreements provide security by delegating an asset to an escrow agent for safekeeping until each party meets his or her contractual obligations.
A legal arrangement in which an asset (such as cash or securities) is deposited into an account under the trust of a third party (the escrow agent) until satisfaction of a contractual contingency or condition.
An escrow agent serves as a fiduciary for both the buyer and seller, with duties assigned as outlined by the agreement between the two. A very narrow, limited relationship. In a trust, the agent's role is broader and more flexible.
Who owns the money in an escrow account? The buyer in a transaction owns the money held in escrow. This is because the escrow agent only has the money in trust. The ownership of the money is transferred to the seller once the transaction's obligations are met.