| While title companies exist for the real estate industry, the commercial world has historically lacked an organization that provides similar escrow services. As a result, companies have turned to banks for these fiduciary needs. Banks, however, are frequently reluctant to undertake the fiduciary responsibilities required of an escrow agent. At the request of our bank clients, HLFMO Escrow Services, a division of Higier Allen & Lautin, P.C., was formed to fill this void in the marketplace. Backed by more than 20 years of experience in banking and real estate law, HLFMO Escrow Services serves as the third party escrow agent on transactions referred by banks involving bank customers. Typically, such transactions include “holdbacks” and “reserves” on corporate purchase transactions, earnest money and deposits on capital-raising transactions, and other corporate contingencies. HLFMO's services allow financial institutions to provide services as an escrow fiduciary, but still service their customers while allowing the financial institution to maintain the escrow deposits.
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