Mašek, Kočí, Aujezdský law firm provides money escrow services.
What are the uses of this service?
The escrow of money by lawyers is used to ensure that contractual parties will duly perform their contractual obligations. A law firm (the transferee) acts as a third, independent party, with whom monies are deposited until the contract is performed. Escrow allows you to plan your transaction without the usual concern for the safety of your funds, even if you are not entirely sure that the other party will perform the contract.
What are the advantages of escrow?
In comparison with services provided by notaries or banks in this area, escrow services provided by our law firm are cheaper for the parties to the transaction. The whole process is also less formal (the contract can be concluded by means of distant communication), and escrow can easily be used even if the agreement between the parties is not typical.
In which situations can escrow be used?
Escrow, traditionally, is frequently used when buying and selling real estate, or transferring businesses, shares or stakes in a company. Due to the flexibility and speed with which we provide our services, our escrow service is also a convenient alternative for all estate agents.