Escrow Agent.

An escrow agent is a person who holds money or property in trust for another person, according to the terms of an agreement between them. The escrow agent is responsible for safeguarding the funds and property, and for ensuring that they are used or transferred as agreed.

The term "escrow agent" is often used in the context of real estate transactions, where the agent holds funds in escrow until all of the conditions of the sale have been met, at which point the funds are released to the seller. What is a designation of agent? A designation of agent is a document that gives someone else the authority to act on your behalf with respect to your home. This could include tasks such as making decisions about repairs or maintenance, paying bills, or even selling the property. The designation of agent can be a very useful tool if you need to temporarily delegate responsibilities for your home to someone else, or if you are unable to manage these responsibilities yourself for an extended period of time. What's another name for an escrow account real estate? The other name for an escrow account in real estate is an impound account. Which task is not the responsibility of an escrow officer? The escrow officer is not responsible for determining whether the property is free and clear of any liens or encumbrances. Is an escrow officer a general agent? An escrow officer is not a general agent. What is meant by fiduciary duty? A fiduciary duty is a duty to act in the best interests of another person. In the context of home ownership, a fiduciary duty may arise when someone agrees to manage another person's property. For example, a property manager may have a fiduciary duty to the owner of the property to ensure that it is well-maintained and that the owner receives any income that is due from the property.