Real Estate Terms Glossary
What is an Escrow Account?
In real estate, an escrow account is usually a third-party account in which funds are kept before being transferred to the ultimate party to facilitate property transactions. An escrow account is important as it provides security against frauds and scams.
The escrow provider is usually a disinterested third party, such as a bank, with no preference about who eventually receives the funds from the account. Sometimes, a homeowner may make deposits in the escrow account on a monthly basis to help pay for significant yearly expenses.
Examples of Escrow Accounts
- Example 1: Security deposits
- Example 2: Earnest money accounts
Here’s Wikipedia’s definition of an Escrow Account .
Meet some of our Real Estate Lawyers
David L.
Experienced real estate, business, and tax practitioner, representing start up and established businesses with formation, contracts, and operational issues.
Jennifer W.
I am an Immigration attorney specializing in business, corporate, and family immigration. I have served the immigrant (EB1A/B/C, NIWs, and PERM) and non immigrant (H, L, O, TN, E) needs for individuals, families, start-up companies, and some of the largest financial and commercial companies. I have experience with adjustment of status and consular processing. Please let me know how I can serve your immigration needs.
Owen K.
I am an experienced transactional attorney with substantial experience (~10 years, 4+ at a large national law firm, 4.5 in-house) in the review/markup and drafting of commercial real estate leases and related agreements (subleases, amendments, terminations, estoppels, subordination agreements, design/engineering/construction/brokerage agreements, etc.). At my "day job," I handle all lease negotiations for a publicly traded company that has hundreds of locations. My role also involves the negotiation of contracts of other various types (product/service agreements, contractor agreements, NDAs, etc.). I am efficient and business-minded and am capable of taking an aggressive or more modest approach, depending on your preferences, leverage, and urgency. https://www.linkedin.com/in/owenkirk/
May 23, 2023
Meagan K.
Meagan Kirchner has nearly a decade of experience in Immigration law. She has significant experience working on H-2B immigration matters. Her practice also focuses on business immigration, particularly representing corporate clients pursuing H, E3, TN, O, and L nonimmigrant classifications, as well as lawful permanent residence (EB-1A, NIW, EB-1C). Meagan has represented clients in a variety of industries including agriculture, hospitality, healthcare, IT, engineering, and finance. Meagan has a Bachelor of Science degree in Business from George Mason University and a Juris Doctor degree from the George Mason University School of Law. She is licensed to practice law in Virginia and is also a member of the American Immigration Lawyers Association (AILA).
May 23, 2023
Barbara M.
In 1991, Barbara Markessinis graduated cum laude from Albany Law School in Albany, New York. Shortly thereafter, Barbara was admitted to practice in New York State and in the United States District Court for the Northern District of New York. In 1997, Barbara was admitted to practice in Massachusetts and in April of 2009 she was admitted to the United States District Court for the District of Massachusetts. After graduating from law school, Barbara worked in private practice in the Albany, New York area and for Sneeringer, Monahan, Provost & Redgrave Title Agency, Inc. before joining the New York State Division for Youth and the New York State Attorney General's Real Property Bureau as a Senior Attorney. During her tenure with the Division for Youth, Attorney Markessinis found herself in Manhattan Family Court in front of Judge Judy! A career highlight for sure! After admission to the Massachusetts Bar, Barbara returned to private practice in the Berkshires and eventually started her own firm in June of 2006. Attorney Markessinis offers legal services in elder law, estate planning and administration/probate, family law, limited assistance representation (LAR), real estate and landlord tenant disputes. In 2016, after a family member found themselves in need of long term care, Attorney Markessinis’ launched her elder law practice. Through this experience, Attorney Markessinis discovered that the process of selecting a long term care facility and/or caregiver, applying for MassHealth and preserving an applicant’s assets are serious issues faced by many people every day. This area of the law is Barbara’s passion and she offers her legal services to families who find themselves in need of an elder law attorney. Attorney Markessinis is part of the Volunteer Legal Clinic in the Berkshire Probate & Family Court and has provided limited free legal services to patients and families at Moments House cancer support center in Pittsfield. She currently serves as a Hearing Committee Member for the MA Board of Bar Overseers and is a member of the Berkshire County and Massachusetts Bar Associations, Berkshire County Estate Planning Council (BCEPC). Attorney Markessinis is also the host of WUPE Talks Law. She also serves on the Town of Hancock Zoning Board of Appeals and Planning Board.
May 24, 2023
Alan W.
40 years practicing most areas of commercial real estate and commercial real estate financing: heavy emphasis on reviewing, drafting and negotiating commercial shopping center leases, agreements of purchase and sale, title and survey, letters of intent, closing documents, lease amendments, lease terminations, etc
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