California Civil Code

§ 1785.28

CIV § 1785.28 Effective Jan 1, 2014Div. 3 · Title 1.6 · Part 4 · Ch. 3.6

Statute text

(a)For the purposes of this section, the following definitions shall apply:

(1)Escrow means any transaction in which one person, for the purpose of effecting the sale, transfer, encumbering, or leasing of real or personal property to another person, delivers any written instrument, money, evidence of title to real or personal property, or other thing of value to a third person to be held by that third person until the happening of a specified event or the performance of a prescribed condition, when it is then to be delivered by that third person to a grantee, grantor, promisee, promisor, obligee, obligor, bailee, bailor, or any agent or employee of any of the latter.

(2)An escrow agent is any of the following:

…

Legislative history

Added by Stats. 2013, Ch. 380, Sec. 1. (AB 1169) Effective January 1, 2014. Repealed as of January 1, 2027, pursuant to Section 1785.28.6.