Register of Deeds - Escrow Account Application

 

 

JEFF L. THIGPEN
Register of Deeds
Guilford County

 

Escrow Account Application

Escrow Agreement (“Agreement”)

1. Purpose of Agreement

This Agreement governs the use of an escrow account for payment of recording and copy fees with the Guilford County Register of Deeds (hereinafter referred to as “Register of Deeds”).

2. Term and Termination

This Agreement shall be valid from the date it is signed until terminated, revoked or otherwise cancelled in writing by either the Register of Deeds or the Subscriber (hereinafter referred to as the “Parties”).   Should the Subscriber cancel this Agreement, the remaining escrow account balance, less any amounts owed, will be sent to the Subscriber in the form of a check within four weeks of receipt of cancellation notice.

3. Subscriber Responsibilities

By agreeing to these Terms, Subscriber agrees to:

  • Remit to the Register of Deeds an initial escrow deposit in the amount of $10.00.
  • Maintain a positive escrow balance.
  • Monitor fund balances to assure that they are sufficient to cover all costs and fees.
  • Provide and maintain a valid email address to receive monthly statements with a summation of recording and copying transactions.
  • The Register of Deeds office will not be responsible for identifying fraudulent forms, or forms with mistakes.

4. Register of Deeds Responsibilities

 

The Register of Deeds agrees to:

  • Subject to payment of applicable fees, accept and process valid documents deemed recordable by the Register of Deeds.
  • Deduct applicable recording fees and service copy fees from the Subscriber’s Escrow account.
  • The Register of Deeds office will maintain account balances for the Subscriber and email account statements monthly to the Subscriber. The monthly statements will include all account deposits, details of processed transactions and account balances.  

5. Account Funding and Services Limitations:

  • Documents will not be recorded and services will not be provided if sufficient funds are not available.
  • It is solely the Subscriber’s responsibility to monitor account balances.

6. Dispute Resolution Procedures

  • An Assistant or the Deputy Director will resolve any dispute between the parties regarding Subscriber’s payments to Guilford County for services rendered under this Agreement. If the Subscriber is dissatisfied with the decision of the Assistant or Deputy Director, the dispute shall be submitted to the Register of Deeds, Jeff Thigpen, whose decision shall be final.

7. Miscellaneous Provisions

  1. Sovereign Immunity.  This Agreement is expressly made subject to all immunities that would otherwise apply to Guilford County, the Register of Deeds, and/or their officials, employees, agents, and representatives, including but not limited to governmental immunity. Without limiting the forgoing, the Parties expressly agree that no provision of this Agreement is in any way intended to constitute a waiver of any immunities from suit or from liability that Guilford County, the Register of Deeds, and/or their officials, employees, agents, and representatives would otherwise have.
  2. Governing Law. The validity and interpretation of this Agreement, the rights and obligations of the parties hereunder, and all disputes arising out of or relating to this Agreement shall be governed by, enforced, and construed in accordance with the laws of the State of North Carolina, without regard to any otherwise applicable conflict of law rules or requirements.
  3. Venue. This Agreement is performable and enforceable in Guilford County, North Carolina where the principal office of Register of Deeds is located, and the state courts of Guilford County shall be the venue for any litigation, special proceeding, or other proceeding as between the parties that may be brought, or arise out of, in connection with, or by reason of this Agreement.
  4. Third Parties. The obligations of each party to this Agreement shall inure solely to the benefit of the other party, and no other person or entity shall be a third-party beneficiary of this Agreement or have any right to enforce any obligation created or established under this Agreement.
  5. Severability. If any term or provision of this Agreement, or of any document incorporated herein by reference, is construed or found to be void, voidable, illegal, unenforceable, or invalid, this will not affect the legality, enforceability, or validity of any of the other terms or provisions of this Agreement or of any document incorporated herein by reference. The illegal, unenforceable, or invalid term or provision shall be deemed stricken and deleted, but all other terms and provisions shall nevertheless continue and be given full force and effect as if the illegal, unenforceable, or invalid terms or provisions had never been incorporated.
  6. Binding Agreement.  This Agreement by both parties constitutes a legal, valid, or binding obligation of the parties. The person or persons accepting this Agreement on behalf of the party, or representing themselves as accepting this  Agreement on behalf of the party, do hereby warrant and guarantee that he, she, or they have been duly authorized by the party to enter into this Agreement on behalf of the party and to validly and legally bind the party to all terms, performances, and provisions herein set forth.

8. Acceptance of Terms

By checking the boxes and selecting “I Agree,” you:

Escrow Account Application

PLEASE COMPLETE THE FOLLOWING INFORMATION AND RETURN WITH CASH, CHECK OR MONEY ORDER. CHECKS AND MONEY ORDERS ARE PAYABLE TO: REGISTER OF DEEDS. (COMPLETE ONE FORM PER ACCOUNT NAME).

PRINT NAME(S) OF PERSON(S) AUTHORIZED TO USE THE

ESCROW ACCOUNT AND THEIR DRIVER'S LICENSE (DL) NUMBER:

 

Subscriber Signature

 

 

I, ____________________________, Print name of Subscriber

________________________ Print title of Subscriber

hereby authorize the GUILFORD COUNTY REGISTER OF DEEDS to establish an escrow account with the understanding that these funds can only be used to process or obtain documents filed with the Register of Deeds. I understand that only authorized persons listed above may access the account (changes must be submitted in writing a minimum of two business days prior to its expected use). I further understand that I/the Subscriber has the financial responsibility to maintain a sufficient escrow account balance. In return, the Register of Deeds will provide an accounting receipt after each transaction and a monthly accumulative report of all transactions. Either party may revoke this agreement at any time with written notice.

  1. FILE ORIGINAL APPLICATION WITH REGISTER OF DEEDS ADMINISTRATION (Original Applications are kept on file in the Register of Deeds)
  2. ACCOUNT MAY BE DRAWN ON IMMEDIATELY UPON CREATION/CASHIERING OF ESCROW DEPOSIT.