Cal. Code Regs. tit. 10 § 101.137

Current through Register 2024 Notice Reg. No. 52, December 27, 2024

Section 101.137 - Escrow

"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.

Cal. Code Regs. Tit. 10, § 101.137

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.

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