Put simply, escrow is used to make sure the funds of a real estate transaction change hands at the moment of a closing. That is not the legal definition of escrow, but it is the underlying reason to use escrow. If you are a buyer, you want your funds in the seller’s account only once the deal closes – not before. If you are a seller, you want your money when the deal closes, not later. An escrow company is the neutral entity that holds the funds until the closing is completed and disburses the funds.
REGION -Canada’s Bombardier expects growth in Latin America | COLOMBIA – Colombian company exporting medical cannabis to U.K., Canada | BRAZIL – Spanish canning company expanding its footprint in Brazil | MEXICO – Natural gas pipeline from Texas begins operation in Mexico
REGION – Company raises seed money to digitize small businesses in region | PANAMA – Third bridge over the canal opens allowing motorists easier access | BRAZIL – 5G spectrum auction in March expected to be among largest ever | MEXICO – Business plan for Pemex unveiled; tax cut, government backing key.
ARGENTINA – Argentina’s trade gap turns positive in one year’s time | CHILE – Mining businesses want to use more solar power | BRAZIL – Bunge, BP make sweet deal, create sugar-cane crushing giant | MEXICO – Drop in agriculture prices cuts inflation rate to 3.84% – Retailers in Mexico are embracing e-tail.
FEATURED NEWS – Three Mexico Cities Named Among the Best in the World by Travel + Leisure | ECUADOR – Chinese-owned company begins large-scale copper mining. | CHILE – Eight wineries form association to promote cool-climate wines. | BRAZIL – ICTSI lands deal to manage terminal in Rio de Janeiro. | MEXICO – Mexico seeks to strengthen business ties with China.
Getting an expert is essential for international real estate purchases. Just ask David Connell, a member of TLA’s Advisory Board and managing partner of Connell & Associates, who was quoted in The Washington Post. Beautiful oceanfront properties are less expensive overseas, but without help, the complexities of the title process and the real estate transaction can ruin any deal. With our expertise on Latin American law and our US-style title insurance, TLA and its partners can ensure a smooth initial deal and long-term confidence in your property ownership abroad.