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Need Details regarding ESCROW account
3 years ago
I know a person who's willing to give his property worth 30 Crore as collateral in Escrow account, & there'll be a Contract Agreement with conditions of situation- when I'll get right to own his property Or i'll get money if the situation of Terms & Condition Arises.
Kindly Reply me,
Question.1
Is it Possible the same way ? OR any other way[ name it]?
Question.2
If Situation mentioned in Contract Arises, Will i get property ? OR Money ?
Is anything from Both, possible ?
A.Question.1
Is it Possible the same way ? OR any other way[ name it]?
A: In ESCROW Account the fixed share of money will only come to your account depending on what has been written in the ESCROW account agreement.
Question.2
If Situation mentioned in Contract Arises, Will i get property ? OR Money ?
Is anything from Both, possible ?
A: Eg - If the property is worth Rs. 30Cr as you said ad you ESCROW agreement is in 60:40 basis then by default if the loan is sanctioned for 30 Cr then 18Cr and 12Cr will be the bifurcation. Also make sure that you will get only 18 Cr. but you will b paying EMI for 30 Cr as your profile is being used. So in this case if your partner fails to make the payment of his share of EMI then your name and profile will go in blacklist and negative CIBIL.
If you realize my professional skills, the time & efforts put in by me needs to be truly appreciated, and then Please “CLICK MY LIKES/ THUMBS UP/GIFT” button shown below this reply format & also CLICK/ WRITE a “REVIEW” in 5 star as I have answered your query in detail. Hope this information is useful
ADV. ANISH PALKAR (High Court)
Is it Possible the same way ? OR any other way[ name it]?
A: In ESCROW Account the fixed share of money will only come to your account depending on what has been written in the ESCROW account agreement.
Question.2
If Situation mentioned in Contract Arises, Will i get property ? OR Money ?
Is anything from Both, possible ?
A: Eg - If the property is worth Rs. 30Cr as you said ad you ESCROW agreement is in 60:40 basis then by default if the loan is sanctioned for 30 Cr then 18Cr and 12Cr will be the bifurcation. Also make sure that you will get only 18 Cr. but you will b paying EMI for 30 Cr as your profile is being used. So in this case if your partner fails to make the payment of his share of EMI then your name and profile will go in blacklist and negative CIBIL.
If you realize my professional skills, the time & efforts put in by me needs to be truly appreciated, and then Please “CLICK MY LIKES/ THUMBS UP/GIFT” button shown below this reply format & also CLICK/ WRITE a “REVIEW” in 5 star as I have answered your query in detail. Hope this information is useful
ADV. ANISH PALKAR (High Court)
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Suraj Kumar
Responded 3 years ago
A.IF YOU DEPOSIT YOUR MONEY IN ESCROW ACCOUNT,THEN YOU WILL GET PROPERTY,YOU SHOULD BELIEVE ON DEALOR.
IF SITUATION MENTIONED IN CONTRACT AERISES,THEN YOU WILL PAY ONLY REAL AMOUNT NOT,NEW AMOUNT.
IF YOU UNSATIFIED THEN ASK FOR MONEY RETURN.BUT IN THIS CASE YOU MAY LOSS SOME AMOUNT.
if you like my answer,give us a good review and rating.
#freelegaladvice on banking
IF SITUATION MENTIONED IN CONTRACT AERISES,THEN YOU WILL PAY ONLY REAL AMOUNT NOT,NEW AMOUNT.
IF YOU UNSATIFIED THEN ASK FOR MONEY RETURN.BUT IN THIS CASE YOU MAY LOSS SOME AMOUNT.
if you like my answer,give us a good review and rating.
#freelegaladvice on banking
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