What it is
The typical case is the purchase price of a property: the buyer does not want to pay before being registered as the owner, and the seller does not want to transfer title before having the money. The same mechanism works for any performance that should pass from one party to the other only against an agreed condition.
When it is used
- Purchase price of a property — the most common case, especially when paid from own funds or where a bank's charge is to be repaid out of the price.
- Purchase price of a shareholding or shares — the funds are released against registration of the change in the commercial register.
- Final payments and holdbacks tied to handover of works, documents or fulfilment of another obligation.
- Settlement of co-ownership or marital property, where the payment is split between several people.
- Deals between parties who do not know each other and do not want to rely on trust.
How it works
- 1
Escrow agreement
We agree and record in writing when, to whom and against which document the funds are released — so that there is no dispute about it later.
- 2
Deposit of funds
The depositor transfers the money to a dedicated account opened for escrow purposes.
- 3
Release once conditions are met
Once the agreed conditions are met we release the funds under the agreement and you receive an escrow statement. For property deals we also file the title registration and monitor the cadastral proceedings for you.
Safeguards
Funds are held in a dedicated account opened for escrow purposes.
Release is possible solely against fulfilment of the conditions in the agreement. Not on a phone call, not on a verbal instruction.
The practice of law is insured by law against liability for damage.
A lawyer is bound by a duty of confidentiality regarding everything learned while providing legal services.
Fee
The fee is a matter of agreement with the client. It is set according to the amount held and the scope of the service, and agreed in advance, before work begins.
A notary's fee for holding money in escrow is set by decree and the notary cannot depart from it.
If you need the purchase agreement and representation in the cadastral proceedings alongside the escrow, we can agree all of it as one service for one price.
Frequently asked questions
What is attorney escrow?
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Attorney escrow is a way of moving money safely between two sides of a deal. It is deposited into a dedicated lawyer's account and released to the other party only once the conditions agreed in writing in the escrow agreement have been met.
What is the difference between attorney and notarial escrow?
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The mechanism is similar; the main difference is the fee. A notary's fee is set by decree and cannot be departed from, while a lawyer's fee is a matter of agreement based on the amount and scope of the service. A lawyer can also combine the escrow with drafting the contract and handling the cadastral proceedings.
Are the funds protected if something happens to the lawyer?
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Funds are held in a dedicated account opened for escrow purposes, separately from operating funds. The practice of law is also insured by law against liability for damage.
How much does attorney escrow cost?
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The fee is a matter of agreement and is set according to the amount held and the scope of the service. It is agreed in advance, before work begins. If you also need the purchase agreement and representation before the cadastre, it can be arranged as one service for one price.
Contact
Tell us the amount and the situation in brief
We will come back with a proposed solution and a fee quote. Bratislava, Košice and all of Slovakia — the entire process can be handled online.
Partnership
For real estate agencies and mortgage brokers
The purchase agreement, the escrow of the purchase price and the title registration can be delivered as a single service — with one contact and one timetable instead of coordinating a lawyer, a notary and a bank.
A price agreed up front for your whole pipeline
Agreed once, based on volume, and applied to all your deals.
Deadlines
We agree how quickly we respond to an enquiry and when the contract will be ready.
Your clients stay yours
We do not provide real estate brokerage and have no reason to step into your client relationship.
Online
Your clients outside Bratislava and Košice do not have to travel anywhere.
Get in touch and we will set up a short online call — we will go through how many deals you close each month and how transfers work at your agency today. On that basis you receive a price list for your office. Feel free to try the first deal before committing to a longer arrangement.