No - you cannot unilaterally withdraw funds from an escrow account. The escrow agent holds the money in trust and is legally bound to release it only under the agreed conditions.
Typically, no. An escrow arrangement is a three-party agreement between the depositor (principal), the escrow agent, and the recipient. Only the escrow agent has legal control over the funds and may release them only in accordance with the terms of the escrow agreement.
The escrow agent cannot pay out funds unless the agreement explicitly allows it. Doing so could expose the agent to legal claims from the recipient (or other parties), who could sue for breach of contract or improper release.
If there’s any uncertainty - such as unclear wording or disputed instructions - the escrow agent typically reserves the right to seek legal advice before releasing funds. This ensures compliance and protects all parties involved.
Private escrow accounts provide security, trust and transparency to ongoing or ad-hoc payment requirements.
Third-Party Managed Accounts (TPMA's) are a convenient way to manage complex, high-value or even routine payment operations.
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