Escrow Agency

LANDBANK Trust Banking Group, as an Escrow Agent, acts as an impartial third party who will intervenes or safeguards your contracts involving money, securities, property titles or documents. We make sure that the terms and conditions of the agreement are complied with by all parties involved.

With an Escrow Agency Account, parties will worry less about breach and non-compliance with contract terms. More than the security we provide, your account has the potential to earn extra with our prudent investment of funds (if applicable).

So, if you find yourself to be any of the following:

·          Buyers or sellers of properties or services to be rendered in exchange for final payments;

·          Individuals who want to avail of the BIR exemption on the capital gains tax for selling their principal residence;

·          Recruitment Agencies required by POEA to set up an Escrow Account to answer for whatever legal claims due to employment contract violations; and

·          Government and Private/Corporate Accounts

 

Don’t hesitate to get in touch with us and consider the benefits of an escrow arrangement

 

Sellers of their principal residence may be exempted from Capital Gains Tax (CGT) imposed by the Bureau of Internal Revenue (BIR) if they intend to use the sales proceeds to construct or acquire a new principal residence. The BIR Escrow Account is one of the requirements to avail of the CGT exemption.

Funds that are intended for CGT are initially placed with LANDBANK Trust Banking Group for safekeeping and maintenance. Upon compliance with regulatory requirements together with the BIR’s instruction, the funds shall be released to the seller.


 

The Philippine Overseas Employment Administration (POEA) mandates that a recruitment agency shall set-up an Escrow Account to cover possible future liabilities arising from claims of overseas contract workers due to employment contract violations. In a POEA Escrow Account, a tri-partite agreement is entered into by the recruitment agency, POEA and LANDBANK Trust Banking Group.

LANDBANK Trust Banking Group shall safekeep, invest and administer the fund placed by the recruitment agency under escrow unless ordered to be released fully or partially by the POEA or the National Labor Relations Commission (NLRC).


 

You can now buy or sell your assets with confidence.

With a Buy and Sell Escrow Agency Account, conditions for the release of real estate properties, shares of stocks of corporations, or other valuable assets are determined by the parties. LANDBANK Trust Banking Group ensures that these set conditions are complied by the contracting parties.

 

For more information, visit or call:

LANDBANK – TRUST BANKING GROUP
21st Floor, LANDBANK PLAZA
1598 M.H. Del Pilar St., Malate, Manila 1004
Tel. Nos. 405-7351; 405-7408; 405-7100; 405-7761
 Email: LBP-TRUST@mail.landbank.com