Escrow is for principals that need to transfer funds between multiple parties with the help of an unbiased intermediary.
The Escrow account holder both legally and beneficially owns the funds in the account and then ownership of the account, along with its assets,
transfers to the designated beneficiary upon satisfaction of mutually agreed conditions of disbursement, which is determined by the Trust Officer.
Often, on a large or repeating two-party transaction, the seller and buyer will each open their own Trust account and
the Escrow will used to transfer funds from the buyer's account to the seller's account. Funds are typically held
in an FDIC insured account or, for very large amounts, directly in Treasuries.