Idaho Escrow Act Policy Statement #2007-4

INTERPRETATIONS OF THE IDAHO ESCROW ACT
The Idaho An escrow agreement provides for the placement of money or other assets in the control of an independent third party in order to protect the parties involved in a transaction. The funds or assets are held by the escrow agent until it receives the appropriate instructions or until predetermined contractual obligations contained in the escrow agreement have been fulfilled. Escrow , Idaho Code§ 30-901 et seq., (the Act) became law in Idaho on July 1, 2005. In an effort to provide direction to Idaho businesses whose activities fall within the requirements of the Idaho An escrow agreement provides for the placement of money or other assets in the control of an independent third party in order to protect the parties involved in a transaction. The funds or assets are held by the escrow agent until it receives the appropriate instructions or until predetermined contractual obligations contained in the escrow agreement have been fulfilled. Escrow Act, the Director of the Idaho Department of Finance has adopted the following interpretations of the Act: Dated at Boise, Idaho this 23rd day of July, 2007