[blindlaw] A quick question

[Rob Tabor]

Hi, Marcos and list.

I'm not familiar with the "rent withholding act" that you mention, but in
general an escro account is a dedicated bank account in which the account
owner's sole purpose is  to transmit funds to another party at a specified
time. The most common type of escro account is used by a home-owner whose
property is under mortgage to ensure that homeowner's insurance premiums and
property tax liabilities are paid promptly as they come due. Similarly, a
small business owner may create an escro account to ensure that payroll
taxes including FICA (Social Security) withholding, unemployment insurance
contributions, etc. are paid to the state and Federal governments on time. I
hope this helps to explain the role and purposes of escro accounts, but
please feel free to ask any follow-up questions if you need further
clarification.

Best regards,
Rob Tabor

-----Original Message-----
From: blindlaw [mailto:blindlaw-bounces at nfbnet.org] On Behalf Of Marcos
Rodrigues
Sent: Wednesday, April 17, 2013 8:07 PM
To: Blind Law Mailing List
Subject: [blindlaw] A quick question

Good evening:

Can someone explain me what is a escrow deposit under the Rent Withholding
Act?

I am trying to figure out what kind of deposit is this but am not sure.

Cheers.
Marcos Rodrigues
mrodrigues81 at hotmail.com



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