Our advisor Patricia Barrantes was part of a transaction with foreign clients looking for properties in Grecia. Some clients prefer to follow the process through an escrow to guarantee security for all parties.
Escrow is a legal figure in which the parties agree to hand over the custody of a document or value to an impartial third party so that it can be retained and delivered to the other party upon compliance with the agreed conditions.
The escrow can be understood as a contract, where the figure of the third party (escrow officer) offers a guarantee and security to the parties, with the objective of fulfilling what ordinary people agreed upon.
This company or person guards the funds of the parties and due to the nature of its activity, according to the law, it must be duly registered with SUGEF.
