All Countries
Real Estate
Escrow Account Contract

Escrow Account Contract Template for Germany

Create a bespoke document in minutes,  or upload and review your own.

4.6 / 5
4.8 / 5

Let's create your Escrow Account Contract

Thank you! Your submission has been received!
Oops! Something went wrong while submitting the form.

Get your first 2 documents free

Your data doesn't train Genie's AI

You keep IP ownership of your information

Key Requirements PROMPT example:

Escrow Account Contract

"I need an Escrow Account Contract under German law for a real estate transaction closing on March 15, 2025, where the purchase price of €2.5 million will be held by Deutsche Bank as the escrow agent until the property transfer is registered in the land registry."

Celebrated by
Collaborations with
Investors
Document background
The Escrow Account Contract serves as a crucial document in transactions requiring secure handling of funds through a trusted third party. This agreement type is commonly used in German business transactions where parties need assurance that funds will only be released upon fulfillment of specific conditions. The document complies with German banking regulations, civil law requirements, and financial services legislation. It encompasses detailed provisions for account establishment, fund management, release conditions, and the escrow agent's duties. The contract is particularly relevant in real estate transactions, corporate acquisitions, and international trade deals where German law governs the arrangement.
Suggested Sections

1. Parties: Identification of all parties: Escrow Agent, Depositor(s), and Beneficiary(ies), including full legal names, addresses, and registration details where applicable

2. Background: Context of the escrow arrangement, purpose of the agreement, and relationship between the parties

3. Definitions: Definitions of key terms used throughout the agreement, including 'Escrow Account', 'Escrow Funds', 'Release Conditions', etc.

4. Appointment of Escrow Agent: Formal appointment of the escrow agent and acceptance of the role

5. Escrow Account Establishment: Details of the escrow account setup, account specifications, and initial deposit requirements

6. Deposit of Funds: Procedures and requirements for depositing funds into the escrow account

7. Release Conditions: Specific conditions that must be met for the release of escrow funds

8. Escrow Agent's Duties: Detailed responsibilities and obligations of the escrow agent

9. Fees and Expenses: Escrow agent's fees, payment terms, and allocation of expenses

10. Liability and Indemnification: Limitation of escrow agent's liability and indemnification provisions

11. Term and Termination: Duration of the agreement and conditions for termination

12. Governing Law and Jurisdiction: Specification of German law as governing law and jurisdiction for disputes

13. Notices: Communication procedures and contact details for all parties

14. Execution: Signature blocks and execution requirements

Optional Sections

1. Anti-Money Laundering Compliance: Additional provisions for compliance with German anti-money laundering regulations, required when handling large sums or in high-risk transactions

2. Interest on Escrow Funds: Terms for handling interest earned on escrow funds, if applicable

3. Multiple Party Provisions: Additional provisions for cases involving multiple depositors or beneficiaries

4. Dispute Resolution: Detailed dispute resolution procedures, including mediation or arbitration provisions

5. Force Majeure: Provisions for handling extraordinary circumstances affecting the escrow arrangement

6. Electronic Communications: Provisions for accepting electronic communications and digital signatures

7. Currency Conversion: Terms for handling currency conversion if the escrow involves multiple currencies

8. Replacement of Escrow Agent: Procedures for replacing the escrow agent if necessary

Suggested Schedules

1. Schedule 1 - Account Details: Specific details of the escrow account, including account number and banking information

2. Schedule 2 - Fee Schedule: Detailed breakdown of all fees and charges

3. Schedule 3 - Release Instructions Form: Standard form for requesting release of escrow funds

4. Schedule 4 - Verification Documents: List of required documents for identity verification and due diligence

5. Schedule 5 - Operating Procedures: Detailed procedures for day-to-day operation of the escrow arrangement

6. Appendix A - Required Notices Format: Templates for various notices required under the agreement

7. Appendix B - Signature Authorization: List of authorized signatories and specimen signatures

Authors

Alex Denne

Head of Growth (Open Source Law) @ Genie AI | 3 x UCL-Certified in Contract Law & Drafting | 4+ Years Managing 1M+ Legal Documents | Serial Founder & Legal AI Author

Linkedin in social icon imageX social icon image
alex.den.21@genieai.co
Relevant Industries

Banking and Financial Services

Real Estate

Corporate Mergers and Acquisitions

International Trade

Construction and Development

Technology and Software

Legal Services

Investment Services

Manufacturing

Commercial Property

Relevant Teams

Legal

Compliance

Finance

Treasury

Real Estate

Corporate Development

Banking Operations

Risk Management

Commercial

Business Development

Relevant Roles

Legal Counsel

Compliance Officer

Financial Director

Treasury Manager

Real Estate Manager

Corporate Lawyer

Banking Officer

Transaction Manager

Contract Administrator

Risk Manager

Company Secretary

Chief Financial Officer

Account Manager

Business Development Manager

Industries
Bürgerliches Gesetzbuch (BGB) - German Civil Code: Primary legislation governing contracts, obligations, and legal relationships between parties. Particularly relevant sections include §§ 675 (service contracts), 700 (irregular safekeeping), and general contract law provisions.
Kreditwesengesetz (KWG) - German Banking Act: Regulates banking activities and financial services, including requirements for handling third-party funds and escrow services.
Geldwäschegesetz (GwG) - German Money Laundering Act: Sets requirements for customer due diligence, documentation, and reporting obligations when handling financial transactions and escrow arrangements.
Handelsgesetzbuch (HGB) - German Commercial Code: Relevant for commercial transactions and business relationships, particularly if the escrow arrangement is part of a larger commercial transaction.
BaFin Guidelines on Escrow Accounts: Regulatory guidelines from the Federal Financial Supervisory Authority (BaFin) regarding the management and operation of escrow accounts.
Zahlungsdiensteaufsichtsgesetz (ZAG) - Payment Services Supervision Act: Regulates payment services and may be relevant when the escrow arrangement involves payment processing services.
Teams

Employer, Employee, Start Date, Job Title, Department, Location, Probationary Period, Notice Period, Salary, Overtime, Vacation Pay, Statutory Holidays, Benefits, Bonus, Expenses, Working Hours, Rest Breaks,  Leaves of Absence, Confidentiality, Intellectual Property, Non-Solicitation, Non-Competition, Code of Conduct, Termination,  Severance Pay, Governing Law, Entire Agreemen

Find the exact document you need

Escrow Services Agreement

German law-governed agreement establishing terms for escrow services, including asset holding and release conditions.

find out more

Code Escrow Agreement

A German-law governed agreement establishing terms for software source code deposit with an escrow agent, protecting both owner and beneficiary interests.

find out more

Cloud Escrow Agreement

A German-law agreement governing the escrow of cloud-based software and data between service provider, customer, and escrow agent.

find out more

Escrow Account Contract

A German law-governed agreement establishing an escrow arrangement between parties, detailing conditions for fund handling and release.

find out more

Escrow Waiver Agreement

A German law agreement documenting parties' mutual consent to waive escrow protection in a transaction, including risk acknowledgments and alternative arrangements.

find out more

Escrow Holdback Agreement

A German law-governed agreement establishing terms for holding transaction proceeds in escrow until specified conditions are met.

find out more

Escrow Deposit Agreement

A German law agreement establishing terms for holding and releasing funds/assets through an escrow agent, subject to specified conditions and German banking regulations.

find out more

Download our whitepaper on the future of AI in Legal

By providing your email address you are consenting to our Privacy Notice.
Thank you for downloading our whitepaper. This should arrive in your inbox shortly. In the meantime, why not jump straight to a section that interests you here: https://www.genieai.co/our-research
Oops! Something went wrong while submitting the form.

Genie’s Security Promise

Genie is the safest place to draft. Here’s how we prioritise your privacy and security.

Your documents are private:

We do not train on your data; Genie’s AI improves independently

All data stored on Genie is private to your organisation

Your documents are protected:

Your documents are protected by ultra-secure 256-bit encryption

Our bank-grade security infrastructure undergoes regular external audits

We are ISO27001 certified, so your data is secure

Organizational security

You retain IP ownership of your documents

You have full control over your data and who gets to see it

Innovation in privacy:

Genie partnered with the Computational Privacy Department at Imperial College London

Together, we ran a £1 million research project on privacy and anonymity in legal contracts

Want to know more?

Visit our Trust Centre for more details and real-time security updates.

Read our Privacy Policy.