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Form HUD-92476-OHF Escrow Agreement for Deferred Work
What Is Form HUD-92476-OHF?
This is a legal form that was released by the U.S. Department of Housing and Urban Development and used country-wide. As of today, no separate filing guidelines for the form are provided by the issuing department.
FAQ
Q: What is the Form HUD-92476-OHF?
A: The Form HUD-92476-OHF is an escrow agreement for deferred work.
Q: What is an escrow agreement?
A: An escrow agreement is a legal arrangement where a neutral third party holds funds or assets on behalf of two parties until certain conditions are met.
Q: What is deferred work?
A: Deferred work refers to work or repairs that have been contracted but not yet completed.
Q: What is the purpose of the Form HUD-92476-OHF?
A: The purpose of this form is to establish and document an escrow account to ensure the completion of deferred work on a property.
Q: Who is involved in the escrow agreement?
A: The parties involved in the escrow agreement are the property owner, the lender, and the escrow agent.
Q: What are the obligations of the property owner in the escrow agreement?
A: The property owner is responsible for completing the deferred work in accordance with the agreed-upon terms and conditions.
Q: What are the obligations of the lender in the escrow agreement?
A: The lender is responsible for providing the funds for the escrow account and disbursing them as required for the completion of the deferred work.
Q: What are the responsibilities of the escrow agent?
A: The escrow agent's role is to receive, hold, and disburse the funds in the escrow account according to the terms of the agreement.
Q: What happens if the property owner fails to complete the deferred work?
A: If the property owner fails to complete the deferred work, the lender may use the funds in the escrow account to hire someone else to complete the work.
Q: Can the escrow agreement be terminated?
A: Yes, the escrow agreement can be terminated if both parties agree in writing or if the deferred work has been completed according to the agreed-upon terms.
Form Details:
- The latest available edition released by the U.S. Department of Housing and Urban Development;
- Easy to use and ready to print;
- Yours to fill out and keep for your records;
- Compatible with most PDF-viewing applications;
- Fill out the form in our online filing application.
Download a fillable version of Form HUD-92476-OHF by clicking the link below or browse more documents and templates provided by the U.S. Department of Housing and Urban Development.
Download Form HUD-92476-OHF Escrow Agreement for Deferred Work
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