- Based on agreement in a sales contract and in a protocol on custody of money, we can take purchase price into notarial escrow and ensure its safe delivery after meeting the precisely defined conditions
- We take documents into escrow, thus preventing their loss or destruction. In case of need it is possible to agree that the instrument shall be delivered to another person upon fulfilment of precisely defined conditions
The notary can take a testament, several other documents and money into escrow.
The most frequent case in practice is the notarial escrow of money at real estate transfer. Taking money into notarial escrow means one of the safest methods of purchase price payment. The seller is assured about the existence of purchase price and in case conditions are met, the payment is made to him and the buyer has no risk to pay the purchase price before the agreed conditions are met.
The notarial escrow is a kind of an assurance of all the contracting parties that provides effective protection from several complications that can occur at the transfer of real estate.
Notarial escrow is - except real estate transfers - used in other situations when payment of purchase price and money delivery is needed. Notarial escrow is used also for depositing valuable or confidential documents.
Notarial escrow is protected from eventual seizure on a person who took money to custody. The enforcement officer cannot block an account of notarial escrow or oblige the notary in any way to deliver money from notarial escrow.
In European countries with advanced legal culture transfer of purchase price through notarial escrow is a well-known procedure without which purchase or sale of real estate is not possible
- Valid identification document - e.g. ID card, passport, permit for long-term stay of foreign nationals (driver's license , police confirmation on ID card hand-over and application for the issuance of a new ID card, health insurance card do not serve as identity cards)
- Up-to-date Extract from the Companies Register if the party is a legal entity (provided by us)