The use of a 3rd neutral party to ensure the fulfillment of a promissary note, real estate contract, bill of sale, etc. The promissary note or other written agreement may represent the sale of real or personal property.

Sale of Real Property (Example)


 

Real Estate Closing
Joe agrees to sell property to Suzy using a Promissary Note secured by a Deed of Trust. Joe will act as the bank and allow Suzy to make payments each month to him and he will earn interest on the money owed to him until Suzy pays Joe in full.

Adept Escrow receives documents from Real Estate Closing for safekeeping. Suzy will make her monthly payment to Adept. Adept will in turn forward the payment on to Joe after applying the monies received to principle, interest, etc. All parties are kept up-to-date each month as to the status of the escrow.