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Escrow and Conveyance Services

It is very important for investors to consider how their payment and deposit will be held during the completion of mutual obligations in any contract. Hiring an experienced impartial third party to possess the funds and legal documents until the transaction is completed and all of the obligations have been satisfied, safeguards all involved parties and minimizes the risk prevalent in any real estate purchase.

In the Dominican Republic these transactions are carried out in a different manner than in the USA or Canada. Funds cannot legally be held “in Trust”, these are customarily held in the bank accounts of the realtor, developer or the solicitor. Therefore, the property law firm acts a neutral third party and administers deposited funds ensuring an efficient and secure disbursement process. We provide cost-effective security to all parties in the real estate transaction.

THE BENEFITS OF CANALAW’S ESCROW SERVICE INCLUDE:

  • Separately administered Escrow Accounts

  • Money-back protection

  • Protection against fraud

PROFESSIONAL ESCROW SERVICES FROM CANALAW ARE AVAILABLE FOR A VARIETY OF SITUATIONS IN ALL TYPES OF TRANSACTIONS BETWEEN COMPANIES AND INDIVIDUALS:

  • Real Estate Transactions

  • Property Rental

  • Line of credit

  • International Trade

  • Vacation rentals

  • Payment of fees

CONSTRUCTION ESCROW SERVICE:

Protects the builder as well as the buyer/owner during construction or renovations. The funds for the project are held in Escrow and will be released as the construction progresses. The Escrow helps the builder stay on budget, complete all conditions. and ensure that expenses for the building are paid on time and in full. Funds held in Escrow also protects the buyer/owner by guaranteeing that the construction company does not use their money inappropriately.

 

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TESTIMONIALS
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"Super efficient and professional services! Special mention to Gonzalo Sánchez"

Robert Belanger

"
Excellent service. I am very satisfied and pleased to have hired such an excellent and efficient lawyer, achieving the objectives for which he was hired. Congratulations. Keep up this excellent work". 

Alex Herrera

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ESCROW IN COMMERCIAL TRANSACTIONS:

When buying, selling or offering services, both parties to a contract are concerned that the other party will not deliver on what they promised. The “client” wants to receive the product or service and the “seller or service provider” wants to be certain that they will be paid once they do deliver. If no payment, no delivery. However, what can be done when the delivery needs to be shipped to its destination thousand of kilometers away? Or partial deliveries over a period od time? Or the provision of services over time including partial instalments? One of the parties of the contract has to take the risk that the other will comply faithfully with the bargain or there will not be a transaction.
 
Escrow services resolves this dilemma by providing a neutral third party to hold the funds until all the parties have accomplished their part of the bargain, the conditions of the Escrow are detailed in the Escrow Services Agreement. The Agent holds the funds and disburses them according to the terms of the Agreement and respect the conditions.
 
Trust Canalaw as your Escrow Agent. We are impartial, experienced, and multi-disciplinary team of lawyers that will prepare the Agreement and anticipate and issues that mat arise. Once appointed and in control of the funds, Canalaw will respect their obligations contained in the agreement and will help resolve any issues that may resolve.

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