WebCredenza 2024 Escrow agreements in real estate transactions

Recording available after original program date, 4/16/2024    

Escrow agreements are essential documents in every significant real estate transaction. They are mechanisms for allocating risk among the parties to the transaction. Escrow agents are charged with determining whether certain contractual conditions are satisfied, thereby triggering the disbursement of money or property. Escrow arrangements mitigate the risk of non-performance by one of the parties. But escrow agreements are fraught with potential conflicts and traps that may give rise to delays in finally closing a transaction. This program will provide you with a practical guide to drafting effective escrow agreements, risk allocation, conflict avoidance and working with escrow agents.

• Essential terms – property held, conditions for release/disbursement, fees.
• Defining an agent’s duties, authority, and liability.
• Practical problems with escrow arrangements – holding all the documents, breaking escrow, death of party.
• Issues in construction contracts, development transactions, and property sales.
• Letter of credit, tax and bankruptcy issues to consider.    

Opinions and positions stated by presenters of MoBarCLE programs are those of the presenters and not necessarily those of The Missouri Bar. This program is intended as information for lawyers in Missouri, in conjunction with other research they deem necessary, in the exercise of their independent judgment.
    
Note: This material qualifies for self-study credit only. Pursuant to Regulation 15.04.5, a lawyer may receive up to six hours of self-study credit in a reporting year. Self-study programs do not qualify for GAL Certification, ethics, elimination of bias or Kansas credit.