Montana Code 70-1-511. Delivery in escrow
Current as of: 2023 | Check for updates
|
Other versions
70-1-511. Delivery in escrow. A grant may be deposited by the grantor with a third person, to be delivered on performance of a condition, and on delivery by the depositary, it will take effect. While in the possession of the third person and subject to condition, it is called an escrow.
Terms Used In Montana Code 70-1-511
- Escrow: Money given to a third party to be held for payment until certain conditions are met.
- Grantor: The person who establishes a trust and places property into it.
- Person: includes a corporation or other entity as well as a natural person. See Montana Code 1-1-201