intervient à l'acte en qualité de séquestre
English translation: is party to the deed as escrow agent
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| 10:33 Dec 8, 2023 |
| French to English translations [PRO] Law/Patents - Law: Patents, Trademarks, Copyright | |||||||
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|  Selected response from: Bourth France Local time: 11:07 | ||||||
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| 1 +3 | is party to the deed as escrow agent |
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| 3 | does join in the Deed (of Conveyance) qua / as (BrE) deposit stakeholder (AmE) escrow agent |
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| en qualité de sequestre |
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| TERMIUM Plus® |
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| Discussion entries: 6 | |
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Answers
1 hr confidence: 
does join in the Deed (of Conveyance) qua / as (BrE) deposit stakeholder (AmE) escrow agent Explanation: I agree with the call and clamo(u)r for more context that I can only speculate and guess is a comveyancing of land vs. of chattels (!) scenario. Trustee, as a generic term, may well be right but, if the acte relates to a corporate insolvency scene, so might 'receiver (and special manager)'. Our US-Am. have a predilection (if spelt right) for 'escrow accounts' for money but, in UK conveyancing, escrow refers to a conidtion upon which docs. and deeds are held pre-completion. PS in the UK, a distinction is drawn between holding a money deposit on office vs. client a/c (keep off, naughty Conveyancing Solicitors or imposters posing as such!) as stakeholder for both buyer & seller (prev. vendor and purchase) or as agent for both parties, one leading case that sticks in my mind being: Sorrell v Finch · Date: [1977] · Citation: AC 728 · Keywords: Estate agency. Example sentence(s):
Reference: http://iate.europa.eu/search/result/1702037755108/1 Reference: http://www.proz.com/kudoz/french-to-english/finance-general/... |
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2 hrs confidence: peer agreement (net): +3
peer agreement (net): +3is party to the deed as escrow agent Explanation: Guessing because ideally there would be more context, but chances are this law firm is holding and managing monies in the interim, until such time as a final agreement is reached. Example: "Le compte séquestre permet, lors de la vente d’un fonds de commerce, de bloquer le prix de vente sur un compte spécifique. Ceci permet alors aux créanciers de se manifester dans un délai imparti et de réclamer les sommes dues. Une fois le séquestre levé, le vendeur peut récupérer les fonds disponibles. Le repreneur est alors totalement sécurisé vis-à-vis des créanciers." https://www.msimond.fr/aide-contact/53/compte-sequestre-quel... "An escrow agent is a third party, a person or entity, which holds an asset or funds before they are transferred from one party to another. The escrow agent holds the funds or the asset until both parties have fulfilled their contractual requirements." https://www.google.com/search?q="escrow agent" glossary&sca_... "Yes, a lawyer may act as both an escrow agent for all parties and a lawyer for one of the parties in the same transaction if all parties consent after full disclosure, as long as the lawyer is able to fulfill all of the lawyer’s duties to all parties under the escrow agreement without creating a conflict with the lawyer’s fulfillment of all ethical duties owed to the lawyer’s client in the transaction." https://www.cobar.org/Portals/COBAR/Repository/ethicsOpinion... -------------------------------------------------- Note added at 2 hrs (2023-12-08 12:56:24 GMT) -------------------------------------------------- It has been said there is a UK/US divide in this matter. I cannot say I have encountered it. True, sometimes 'escrow agent' is defined as being the entity holding documents, but UK sources also use it for the organization holding monies, e.g. http://www.escrowagent.co.uk/12.html https://www.psgovernance.com/trusteeship/escrow-agent.html In a field I am particularly familiar with (construction), we find: "Under an escrow, the employer sets aside a sum of money in a ring-fenced account, managed by an escrow agent. The sum will typically equate to the maximum predicted spend in any two-month period during the works, to cover both certified monies and work in progress. If the employer fails to pay an amount due, the contractor – having given advance notice of his intention to do so – may draw on the escrow fund to make up the shortfall. The escrow agent may be a bank or a firm of solicitors, although many law firms are now reluctant to offer this service because of onerous anti-money laundering requirements. " https://www.building.co.uk/comment/legal-the-benefits-of-esc... |
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