California Civil Code 1057 – A grant may be deposited by the grantor with a third person, to be …
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A grant may be deposited by the grantor with a third person, to be delivered on performance of a condition, and, on delivery by the depositary, it will take effect. While in the possession of the third person, and subject to condition, it is called an escrow.
(Enacted 1872.)
Terms Used In California Civil Code 1057
- Escrow: Money given to a third party to be held for payment until certain conditions are met.
- Grantor: The person who establishes a trust and places property into it.
- will: includes codicil. See California Civil Code 14