What are escrows for a loan? Please provide three examples

Expert Solution

Escrow account is the account of the third party in which the money is kept before it is transferred to ultimate party and escrow account is meant for keeping the money and other security safe and it is only releasing the funds once certain conditions are met so it is for the optimum security of the funds before being transferred to the ultimate party

Example of escrow account will be the the account in which the money is kept at a time of the approval of the home loan

escrow account can also be maintained at the time of initial public offering and keeping the money secured.

Escrow account can also be managed for Debt redemption.

jeff jeffy answered 2 years ago

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