escrow funds


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  • noun

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References in periodicals archive ?
The response will provide a clear explanation of Al Jazeera's position and its right to indemnification from escrow funds.
To further protect Al Jazeera's right to indemnification, the sellers agreed to set aside money in an escrow fund to be held and managed by an escrow agent (and not by Al Jazeera, as implied in the Gore-Hyatt lawyer's statement).
Al Jazeera has accordingly demanded indemnification from the sellers for these claims and filed timely notices of claims against the escrow fund with the escrow agent.
The suit alleged the companies had illegally held dormant and unclaimed escrow funds, retained fees charged to home buyers for services not rendered and retained interest on deposited escrow funds that should have been returned to customers.
ESNY provides bonded independent security for escrow deposits, assuming direct responsibility for escrow funds at every step of the escrow process, "right through to the delivery of signed and certified checks at closings.
A nationally recognized money management firm will handle the escrow funds, which will be invested in short-term U.
Attorneys are now relieved of all the time consuming escrow fund management obligations and their clients receive the highest security through bonded protection for the funds they put in escrow, at little or even no net cost.
Citing widespread and systematic illegal business practices, the suit alleges that escrow and title companies illegally held dormant and unclaimed escrow funds, retained fees charged to home buyers for services not rendered and retained interest on deposited escrow funds that should have been returned to their customers.
Under California's Unclaimed Property Act, the majority of the escrow funds must be immediately escheated to the state to be reunited with rightful owners.
In the opinion of McGladrey & Pullen, there will be sufficient funds available in the escrow funds for the debt service payments, including redemption premiums and, from the escrow fund securing the series 2003A refunded bonds, fees due to the Capital Trust Agency.
The Working Interest Owner, under the terms of the Trust Conveyance, is permitted to escrow funds up to 125% of the estimated future costs such as dismantlement costs and capital expenditures for the properties in which the Trust has an interest (Special Cost Escrow).