You may need to establish an escrow arrangement if you and another party need certain property to be held by a third party (the “escrow agent”) until certain conditions are agreed upon. Property may be cash, insurance policies, securities, powers of attorney, licenses or real estate.
An escrow arrangement allows you to reduce the risk for all parties involved in the transaction and ensure that financial or other obligations are met.
An escrow agent to support you
If you or your company require an escrow arrangement, RBC Royal Trust1 can act as an escrow agent. As a corporate entity, we can provide:
- Impartiality and objectivity that allows us to adhere to the terms of the escrow agreement—and help to protect the interests of all parties involved
- Continuity as a corporation—we are not subject to illness or death
- Custody services for specific property placed in escrow
- Access to established processes and internal systems, providing accurate accounting and investment statements
- Administrative assistance to ease the workload of involved parties
- An experienced trust officer assigned to your account
- Investment services where applicable—such as investing cash or providing competitive interest rates on balances
- Tax support when needed
1 Please note our legal entity, Royal Trust Corporation of Canada or The Royal Trust Company (in Quebec), can act as an escrow agent for individuals or corporations that require an escrow arrangement.