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Can the net equity proceeds from the relinquished property closing be held in an escrow account other than with the Qualified Intermediary?

April 26, 2017account closing equity escrow held NET proceeds Property qualified relinquished

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Can the net equity proceeds from the relinquished property closing be held in an escrow account other than with the Qualified Intermediary?

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Yes, by prior written agreement, the QI can designate the funds be held in trust in any Qualified Safe Harbor Trust Escrow Account with funds coming directly from the closing agent. The Investor may not have any control of the funds, prior to and during the escrow period.