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What is an Escrow Account for Rent? An escrow account for rent is a special account where rent payments are held by a neutral third party, such as a property management company or attorney. It’s often used when there’s a dispute or specific condition that needs to be resolved between the landlord and tenant. Rather … Read more
An escrow analysis shortage occurs when there aren’t enough funds in your escrow account to cover the projected expenses, such as property taxes or homeowners insurance. This can happen for several reasons, such as an increase in property taxes, insurance premiums, or miscalculations during the prior year’s escrow analysis. When an escrow shortage is identified … Read more
Title and escrow services are integral components of real estate transactions, playing a crucial role in ensuring the smooth transfer of property ownership. In this comprehensive guide, we delve into the intricate details of title and escrow in real estate, exploring their definitions, functions, the legal landscape surrounding them. And the benefits they bring to … Read more