Important Notice: Our web hosting provider recently started charging us for additional visits, which was unexpected. In response, we're seeking donations. Depending on the situation, we may explore different monetization options for our Community and Expert Contributors. It's crucial to provide more returns for their expertise and offer more Expert Validated Answers or AI Validated Answers. Learn more about our hosting issue here.

Can escrow agents keep bank interest?

agents Bank escrow
0
Posted

Can escrow agents keep bank interest?

0

No. All interest that’s earned on an escrow deposit should be paid out in accordance with the escrow agreement, or to the party whose money generated the interest. It would be a conflict of interest for an escrow agent, as a fiduciary, to require that bank interest be treated as compensation for services rendered.

What is your question?

*Sadly, we had to bring back ads too. Hopefully more targeted.

Experts123