Escrow Fund Surplus Sample Clauses

The Escrow Fund Surplus clause defines how any remaining funds in an escrow account are handled after all obligations secured by the escrow have been satisfied. Typically, once claims, payments, or liabilities covered by the escrow are resolved, any surplus funds are returned to the party that originally deposited them, such as the seller in a transaction. This clause ensures that excess funds are not unnecessarily held and are promptly returned, providing clarity and fairness in the management of escrowed assets.