Escrow Agreement printable pdf download

LIFE SETTLEMENT PROVIDER’S STATIONERY

ESCROW AGREEMENT

This escrow agreement (“Escrow Agreement”) is made and entered into by and among

_____________________________________________________, (“Purchaser”), a

(Name of Life Settlement Provider)

_____________________________ ________________________________________

(State of Incorporation or Organization)

(Type of Entity - corporation; limited liability company)

________________________ (“Escrow Agent”) and _____________________ (“Seller”)

as of the date last signed below.

WHEREAS, the Purchaser and the Seller have entered into a life settlement agreement

(“Life Settlement Agreement”) for the sale and/or assignment to the Purchaser of life

“Policy”)

issued

insurance

policy

#__________________(the

_____________________________(“Insurance Company”) owned by the Seller;

WHEREAS, pursuant to said Life Settlement Agreement, the Purchaser has agreed to

deposit the purchase proceeds into an escrow account upon receipt of properly

completed and executed documents necessary to transfer the Policy to the Purchaser;

WHEREAS,

the

Purchaser

and

the

Seller

have

agreed

use

__________________________________ to act as Escrow Agent; and

WHEREAS, the Escrow Agent has agreed to act in such capacity upon the terms and

conditions contained herein;

NOW, THEREFORE, in consideration of the mutual premises and conditions contained

herein, the Purchaser, the Seller and the Escrow Agent do hereby agree as follows:

Within three (3) business days after receipt from the Seller of all documents,

properly completed and executed, necessary to effect the transfer of ownership

or assignment of the Policy to the Purchaser and effect the change of beneficiary

name

__________________

the

beneficiary

under

the

Policy

(“Documents”), the Purchaser shall deliver to the Escrow Agent for deposit into

escrow

account

(“Escrow

the

designated

Account”)

held

____________________________________ the sum of $__________, the

(Name & Address of Bank or Trust Company)

amount of the proceeds of the life settlement agreement between the Seller and

the Purchaser (“Proceeds”).

The Escrow Agent will transfer the Proceeds [optional: with any interest that has

accrued thereon] to the Seller or to whomever the Seller has instructed, within

three (3) business days of written acknowledgement from the Purchaser that the

Insurance Company has accepted and recorded the change of ownership or

assignment successfully transferring ownership or assignment of the Policy to

the Purchaser and the change of beneficiary successfully naming __________

as its beneficiary.

LSP-Escrow (11/30/10)

Escrow Agreement

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