Terms Used In Louisiana Revised Statutes 41:1088

  • Escrow: Money given to a third party to be held for payment until certain conditions are met.

Should the Interagency Recreation Board advertise and sell timber on any lands, the title to which is in dispute, a provision may be made that the consideration to be paid the board by the adjudicatee of the timber sold under the provisions of this Part, shall be deposited in escrow with the board, to be held by that board pending the final determination of the validity of the title to the land or until the Interagency Recreation Board and the grantee otherwise agree that payment should be made or released as provided for in the agreement.

Acts 1984, No. 846, §2.