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There is one condition under which the grantor does not turn over or deliver the deed to the grantee after it is made. This is known as a Deed in Escrow. A deed "delivered in escrow" is when the document is placed with a third party to be by him delivered to the grantee when a certain time has elapsed or certain conditions have been fulfilled.
"There's reason in that," MacCandless answered thoughtfully. "You to insure the vessel as our interest may appear, bill of sale in escrow; and if you default for more than thirty days on any payment before we have received fifty per cent. of the purchase price you lose out and we get our ship back." "Sharp business, but I'll take it, Mr. MacCandless.
The real owner of the property was sent for; the property was bought for £2,000; the deed, which had been put in escrow, and which on its face called for £150,000, was taken up, releasing the stock, and then the old men and the young man rubbed their hands and said to each other that it had been a good day's work. Sedgwick and Browning had now been several days in London.
Six men had stamped that upon him in the basement of the courthouse that night. His funds were low, growing lower every day, and there was little possibility of rehabilitating them until the trial of Harry should come, and Fate should be kind enough to order an acquittal, releasing the products from escrow. In case of a conviction, Fairchild could see only disaster.
The committee reported that it had examined seven witnesses, Yesler, Roper, Landor, James, Reedy, Kellor, and Ward, and that each of then had testified that former Congressman Pelton or others had approached him on behalf of Warner; that an agreement had been made by which the eight votes being cast for Bascom would be give to Warner in consideration of $300,000 in cash, to be held in escrow by Yesler, and that the committee now had the said package, supposed to contain the bills for that amount, in its possession, and was prepared to turn it over to the legislature for examination.
Then you come down to me and I hand you three hundred thousand dollars in currency; for in such a transaction as this, checks, with their indorsements, provide a trail that may prove embarrassing. You take that money and deposit it in escrow in any local bank against a bill of sale of the Bavarian from Mrs. Koenitz to the North and South American Steamship Company, of Guaymas, Mexico.
Until he could have and hold the right to control his own property as he himself saw fit, he had to hide just as deep from the enemy who would steal it as he must hide from the friend who would administrate it as a property in escrow for his own good, since he as a minor was legally unable to walk a path both fitting and proper for his feet. So, the facts had to be concealed.
In the first place, your mine is in escrow, being held in court in lieu of five thousand dollars bond on " "You seem to have been making a few inquiries?" "Not at all. I never heard of the proposition before she brought it to me. As I say, the deeds to your mine are held in escrow. Your partner now is accused of four crimes and will go to trial on them in the fall.
That 'll let us have time to stir up a little favorable evidence, which right now we don't possess. Understand all money that comes from the mine is held in escrow until this case is decided. But I 'll explain that. Going to stick around here and bask in the effulgence of really possessing a case. S'long!"
It was in the nature of a hastily arranged celebration, because the deal for three acres of land that Peter Morrison most coveted on the small plateau, mountain walled, in Lilac Valley, was in escrow. He had made a payment on it. Anderson was working on his plans. Contractors had been engaged, and on Monday work would begin.
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