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Escrow Agreement Template

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Quick Overview

A legal document that outlines the terms and conditions between parties involved in an escrow. An escrow agreement defines the arrangement by which one party deposits an asset with a third person (called an escrow agent), who will in turn make delivery to another party if and when the specified conditions of the contract have been met. This agreement is in Fillable PDF format as well Microsoft Word File.

Escrow Agreement Template

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Sample Text: (Formatting does not match the actually Forms)

Escrow Agreement
1. Parties, ________________________________________________________ of ___________________________________________________________________ (Seller) and _______________________________________________________ of ___________________________________________________________________ (Buyer) have entered into a contract for the sale of Seller's business ______________________________________________________________________________________________________________________________________, a copy of which is annexed to this Agreement ___________________________________________________________________.
2. Agreement for Funds to Be Placed in Escrow. Seller will pay _____________________________________________________________ dollars ($______¬___________________________________________________________) to be held by ______________________________________________________ as Depositary. This sum shall be paid by __________________________________.
3. Payment of Debts. Seller agrees to pay all outstanding debts of the business. Should Seller fail to make such payments, Buyer may make such payments and Seller will remain liable to Buyer for any such payments made by Buyer.
4. Holding of Escrow Account. Depositary will hold the escrow account until Buyer and Seller provide Depositary with a written statement instructing Depositary as to the disposal of the escrow. Depositary, upon receiving such instruction, may then pay out the escrow as instructed by Buyer and Seller.
Signature: __________________________________________________________
Buyer
Signature: __________________________________________________________
Seller
Acknowledgements: _____________________________________________
_________________________________________________________ (Depositary) acknowledges the receipt of _____________________________________________________________ dollars ($_________________________________________________________________) and agrees to the terms and conditions regarding this sum as set forth by this Escrow Agreement.
Date: _____________________________________________________________
Signature: _________________________________________________________
Depositary
Acknowledgements: ____________________________________________________________________________________________________________________________________

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