DHSUD Escrow
For Real Estate DevelopersDHSUD Escrow
For Real Estate Developers
How an Escrow Agreement Works
LANDBANK - Trust Banking Group, as an Escrow Agent, acts as an impartial third party who will intervene or safeguard 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, giving you peace of mind.
License to Sell and Certificate of Registration Escrow
This serves as compliance with Republic Act 7279 (the “Revised UDHA”) which requires developers of proposed subdivision and condominium projects to support the government’s Balanced Housing Development Program. Per DHSUD Memorandum Circular No. 2020-006, a Developer is required to place a specified amount in escrow to ensure compliance with its relevant commitments.
Temporary License to Sell Escrow
This serves as compliance with DHSUD Department Order No. 2021-00, which allows the issuance of a Temporary License to Sell (TLS) for projects pending certain permits. The Developer must place the proceeds of sales made under the TLS into Escrow, and no part of these proceeds may be withdrawn unless expressly authorized by the DHSUD.