TLA 2
Understanding Escrow in Transactions
What is Escrow?
- Escrow is defined as a third party that holds funds until the terms of a contract are fulfilled, ensuring security for both parties involved.
- A common question arises regarding the initial step in transactions: whether to send earnest money to the seller, a lawyer, or an agent.
Challenges in Cross-Border Transactions
- Cross-border transactions present unique challenges related to escrow, highlighting the importance of understanding local laws and practices.
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