The date of the escrow period’s expiration, commonly referred to as the release date or the escrow expiration date, is the last date on which the buyer can make claims against the escrow. Funds remaining in the escrow at the expiration date may continue to be held in escrow if the buyer made claims prior to expiration that have not yet been resolved. Money will be disbursed either to the buyer or the former stockholders as soon as such claims are finally determined.
Additionally, even if no claims have been made, there is a short delay between the escrow expiration date and the date of the disbursement of funds as the escrow bank completes its process of getting final confirmation from the parties and sending the applicable checks and wires. A typical timeline for the distribution of funds after an escrow expires can be found here.
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