Write short note on "Deed Escrow".

A deed signed by one party will be delivered to another as an "escrow" for it is not a perfect deed. "Escrow" means a simple writing not to become the deed of expressed to be bound thereby, until some conditions should have been performed. A grantor may effectively deliver a deed in the future by an escrow. An escrow is a deed given to third party, called an "escrow agent", to hold and then deliver to the grantee when specified conditions are met. The parties may close a real estate sale by using an escrow agent. The grantor can give the deed to the escrow agent with instructions to deliver the deed to the grantee when the grantee delivers the purchase price to the escrow agent. Likewise, the grantee can deliver payment to the escrow agent with instructions to give it to the grantor when the grantor gives the deed to the agent and the rest of the contract conditions are fulfilled, such as getting an acceptable title insurance policy. The escrow agent also may manage the closing in other ways, like allocating expenses and recording documents. When a deed is delivered by escrow, it conveys title when the escrow conditions are met. The parties may give the written instructions to the escrow agent detailing the conditions, or they may simply instruct the escrow agent to close the escrow when the conditions of the parties' purchase agreement are met.