Escrow & Title
What is 'escrow' in an Idaho real estate transaction and who acts as the escrow?
AEscrow is the amount of earnest money; only the seller's attorney can hold it
BEscrow is a neutral arrangement where a third party holds funds and documents until all conditions are met; in Idaho, title companies, attorneys, or brokers typically serve as escrow holders✓ Correct
CEscrow is the title insurance policy
DEscrow is only used in commercial transactions in Idaho
Explanation
Escrow is a process where a neutral third party holds funds and documents (deed, loan funds) until all contractual conditions are satisfied. At closing, the escrow holder disburses funds and records documents simultaneously.
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