Escrow & Title
In Arizona, an escrow company acts as a(n):
AAgent for the buyer only
BAgent for the seller only
CDual agent representing both parties with equal loyalty
DNeutral stakeholder/fiduciary that follows the joint escrow instructions of both parties✓ Correct
Explanation
An Arizona escrow company is a neutral stakeholder that holds funds and documents and follows the joint written instructions of both the buyer and seller. It does not advocate for either party.
Related Arizona Escrow & Title Questions
- In Arizona, who typically serves as the escrow agent in a residential real estate transaction?
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