HomeOtherCannabis Escrow: Real Estate, and Permit Escrow Services

Cannabis Escrow: Real Estate, and Permit Escrow Services

We can assist clients with transactions that the majority of escrow providers won’t handle. They are capable of managing a range of transaction types, including hemp sales, real estate closings, construction escrow accounts, and others.

Let us know if you have a special circumstance; chances are they can find a solution. To ensure that your money is always safe, their team can handle all disbursements, handle the escrow documents, and deliver frequent account statements.

Outline Of The Process: How It Works

Step 1 – Open an Escrow Account

The following paperwork must be provided in order to start an escrow account:

A signed escrow agreement between all parties

Each entity’s operating agreement (buyer and seller)

An LLC resolution stating who is authorized to release the funds and being signed by all LLC owners (Download Sample LLC Resolution)

A copy of each signatory party’s driver’s license or passport

A W-9 form for the business receiving the funds

Step 2 – Fund Escrow

You will be given a transaction number once we have received your supporting documentation. Your escrow account can now be funded with an ACH, check cashier’s check or wire transfer. Prior to sending any money, ALWAYS call to confirm the wiring instructions!

Step 3 – Complete the Transaction

At closing, you’ll probably be asked to sign a number of documents, depending on the transaction.

A copy of the closing package and a disbursement ledger indicating the intended use of the funds should be sent to you. Your lawyer or broker might draught the final agreements if your acquisition does not contain real estate.

Token Title will pay out as soon as everyone is satisfied that the contract’s conditions have been met and has given their consent for the money to be released.

Read more: Cannabis Seed Storage: How To Store Cannabis Seed In 2022?

Fee Schedule

Sales of real estate and businesses:

$150 for every million (Title insurance expenses are not included here; however, we can arrange for you to coordinate them with the cannabis-friendly Token Title Group.)

Escrow for Hemp:

$1500 per million in transactions, with a maximum of 4 parties.

Read more: Cannabis Terpenes: What are they, exactly?

Personalized Escrow Transactions:

Token Title Group can create a special agreement for you if your transaction is unusual, involves several parties, or costs than $2 million.

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