Active Trust

Finance a la shmoop what is escrow so leave it to the French they'll cook and [Man and woman cooking food]

eat anything horse hoof pig snout and yes finally snail but wait that's

different oh okay well escrow is a financial state

of being akin to the pearly gates where st. Peter is a you know checking you out [St Peter appears in the clouds]

there's a transaction a contract a whole bunch of signatures a commitment and

then a holding time our waiting period or cooling period will the transaction

be allowed through the gates or in Dante fashion will it be sent back to the pits

of hell to be renegotiated fixed or suffer eternal damnation yeah those are

the questions escrow is that special place where your dough hangs out until [Escrow definition appears on 100 dollar bill]

the grander powers that be decide whether or not that dough can be you

know shoveled along forward selling your home well it's likely the buyer first

puts their dough into an escrow account which only gets released to you once [money transfers into a piggy bank]

those pesky socialist termites have been eradicated by Clint Eastwood and if the

termites win well you won't be able to afford cooked snail any time soon and

we'll just put it that way so its escrow your money just kind of sits there until [Escrow piggy bank waiting at traffic lights]

gets a green light all the contracts are signed everything's good then the money

just wires into your bank account and then you can move on with life