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Escrow Account

An Escrow account is a trust account which assists with sale/purchase transactions (real estate, cars, and any other property), by reducing the risk between the involved parties to the minimum. The buyer, the seller and Rietumu Bank sign an agreement in which they mutually agree on the documents necessary and the terms and conditions of a deal to be carried out. The buyer obtains the right to own a property (a good) when the agreed amount has been transferred to the escrow account in the bank; the seller in turn receives the money after fulfilling his obligations specified in the agreement.

Fees: Escrow Account


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