California Code of Regulations
Title 10 - Investment
Chapter 2 - Savings and Loan Commissioner
Subchapter 1 - General Provisions
Article 1 - Definitions
Section 101.137 - Escrow

Universal Citation: 10 CA Code of Regs 101.137
Current through Register 2024 Notice Reg. No. 52, December 27, 2024

"Escrow" means any transaction wherein one person, for the purpose of effecting the sale, transfer, encumbering, or leasing of real or personal property to another person, delivers any written instrument, money, evidence of title to real or personal property, or other thing of value to a third person to be held by such third person until the happening of a specified event or the performance of a prescribed condition, when it is then to be delivered by such third person to a grantee, grantor, promisee, promisor, obligee, obligor, bailee, bailor, or any agent or employee of any of the latter.

1. New section filed 12-7-88; operative 1-6-89 (Register 88, No. 52).

Note: Authority cited: Section 8053, Financial Code. Reference: Section 6521, Financial Code.

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