Escrow Scam

Regrettably the internet allows and, in many cases, encourages a wide variety of frauds and scams that were not available before and one that we see all too regularly is the Escrow Scam. Unfortunately, people will often contact us after the money transfer has taken place, by which time it is too late.

Although it can take many different forms, the most common form looks something like this:

Be careful and vigilant when appointing an Escrow Agent and please see our guide on Escrow Scams for further information.

If you have any questions about an Escrow Agent or our services, please check out our FAQs or you are welcome to contact us directly.

A notarized form stating where a person resides (or where a deceased party resided). Known as Letters of Testamentary.

A written statement that attests to the fact that a shareholder is not in possession of his/her certificate due to loss or non-receipt. The affidavit should be notarized.

An amount usually representing the taxpayer's cost in acquiring an asset. It is used for a variety of tax purposes including computation of gain or loss on the sale or exchange of the asset and depreciation with respect to the asset.

A prolonged decline of stock prices usually occurring over a period of months or years. May also describe a general belief by many investors ('bears') that prices are in a falling pattern.

A person or organization that has any present or future interest, vested or contingent, in the assets of a trust.

A certificate of indebtedness to a corporation or government over a period of more than one year. (A debt of less than one year is called a 'note’.)

Shares held in non-certificate form either by a broker 'street name', in a plan such as a Reinvestment or employee plan or directly registered on the books of the corporation in book entry form.