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Escrow Agreement

In Czechia, a property transfer is the most common situation when it’s wise to put your money into the custody of an escrow agent. Only then can you be sure that the seller of the property receives their money, once the ownership of the property changes.

A renowned attorney is a safe choice for an escrow agent. At Jašíček & Partners Attorneys, we’ll take care of your money with the most professional care.

  • Our process is honed to perfection — we tackle all the paperwork & administration.
  • We update you on every step.
  • You can check your money any time by logging into the client section on our website.
How much does it cost

Escrow Fee Calculator

Value of your escrow (e.g. price of the transferred property)
5 000 000 Kč
Escrow Fee (without VAT)
5 000 Kč

The calculated fee covers only the administration of the escrow. It doesn’t include legal advice with regard to the contract that initiated the need for an escrow (most often property purchase agreement). If you want us to provide additional legal services, we’ll happily put together an individual price quote for you.

Order escrow now

YOUR TRUSTED ESCROW AGENTS: JAŠÍČEK & PARTNERS

The Best Custody for Your Money

Insurance up to 250 million CZK

To make sure your money is 100% safe with us, we boosted up our insurance to approx. 10 million EUR. To give you some perspective: The compulsory insurance for an individual Czech attorney is 7 million CZK (ca. 280,000 EUR), and 50 million (ca. 2 million EUR) for an attorney’s firm.

Your Money Under Your Control

For most people, property transfers are a big deal. That’s why we came up with a tool that allows you to check the escrow account wíth your money anytime, by simply logging in the client section on our web. To put your mind even more at ease, we update you on every progress in your case via e-mail.

As Online as It Gets

Transferring large sums of money requires robust paperwork, regulated mostly by AML (anti-money laundering) provisions. According to those, you still have to get your identity verified in an in-person meeting. Once regulations allow it, we’d like to shift the process to online, and verify clients’ identities via their Bank IDs.

Your Escrow Guide

Escrow Agreement Step by Step

1

After our introductory meeting (online or in-person), we outline and present the best approach to your case. We may tweak our standard procedures to fit your needs perfectly.

2

We prepare all the legal documentation and give you clear instructions about what you need to do yourself. We sort out all the necessary communication with other participants (official authorities included).

3

We sign documents. Property transfers in Czechia require signature verification — we take care of that or you can have your signatures verified elsewhere. We make sure all the documentation is in line with relevant legal regulations (especially the Anti-Money Laundering Act). Signed documentation can also be taken into escrow.

4

Once the money is wired to us, we dutifully let everyone know. The escrow sits on a special escrow account, separated from our own finances. In case of property transfers, we send a registration application to the Cadastre of Real Estate of the Czech Republic.

5

We regularly check whether the conditions to release the escrow have been met. When it finally happens, we let everyone know without undue delay.

6

We release the escrow and wire it to its rightful owner (in cases of property sales, the seller). We do so in 10 workdays (at the very least) after all the conditions for releasing the escrow have been met.

Online or in person — your choice

First meeting (15 mins with our assistant) is FREE

Get an appoinment

Out Team of Attorneys

As avid aficionados of law and justice with many years of experience, we’re well aware that the trust of a client is hard to gain and easy to lose. That’s why we strive to provide top-notch legal services — with the objective of building long-term relationships with our clients based on mutual trust.

Our office is located in the center of Prague.

Meet the team

What Our Clients Say

Vít Kala

Executive Director of E&Q investment group
www.dt-holding.cz

„As a member of DT-holding, E&Q investment group handles quite a number of property transfers every year. Our projects are very different, both size and complexity-wise. We can always rely on exceptional legal services provided by attorneys at Jašíček & Partners: For years, they’ve been navigating and guiding us throughout the property transfer process, putting together  bulletproof escrow agreements and making sure our interests always come first.“

Vít Kala

Executive Director of E&Q investment group
www.dt-holding.cz

Michaela Güntherová, BA (Hons)

Reality Town s.r.o.
www.realitytown.cz

„With the aid of Jašíček & Partners, we were able to offer complex legal advice to our clients, on top of our standard real estate services. There hasn’t been a slightest hiccup in our 5-year partnership and we know we can fully rely on our partner attorneys.“

Michaela Güntherová, BA (Hons)

Reality Town s.r.o.
www.realitytown.cz

Ing. Jiří Pruša

Pilot and aviation promoter, traveller, author and publicist
www.flying-revue.cz

„I consider investing in real estate a wise investment, and that’s why I own several flats. For each purchase, I had all the contracts and other documentation prepared by attorneys at Jašíček & Partners, and I also chose them as my escrow agents. I wholeheartedly recommend this law firm to anyone who buys or sells property.“

Ing. Jiří Pruša

Pilot and aviation promoter, traveller, author and publicist
www.flying-revue.cz

Attorney, Notary, Bank, and Real Estate Agency Can All Administer Escrow. What’s the Difference?

Choose Your Escrow Agent Wisely

All types of Escrow Agreements have to comply with the rules of the Czech Civil Code. The main thing that sets the most common types of escrow agreements apart is the escrow fee. Then there’s the question of trustworthiness, aka the security of your money.

  • CThe escrow fee by a bank is firmly set in the bank’s price list.
  • A notary has to calculate their escrow fee in compliance with a specific legal act – the Notary Tariff.  For an escrow up to 100,000 CZK, the fee is 1.2%.
  • The Attorney Tariff sets no rules with regard to escrow. An attorney is entitled to set their own fee with their client.
  • Same rule of no set price applies to real estate agencies. Should you choose one as your escrow agent, we recommend proceeding with the utmost caution as professional rules for real estate escrows are nowhere near as strict as rules for notary and attorney escrows. Renowned real estate agencies outsource their escrows to an attorney anyway.

Choosing an attorney as your escrow agent makes even more sense if you’re looking for legal advice with regard to your property transfer. Getting such advice is downright impossible in a bank; and quite limited by notaries (whose domain is a specific area of law) and real estate agencies (they may but also may not employ a lawyer).

More about escrow agreements

Entrust Your Money to Us

Let us know how we can help

Thank you for your inquiry! Here’s what will happen:

We’ll get in touch soon — the very next workday at the latest.

Our assistant will reach out to you.

  • Millions of CZK have passed through our escrow account and were delivered to their rightful owners. Safe and sound.
  • You always know what’s happening with your money — simply log in the client section on our web to make sure it’s where it should be.
  • We dutifully inform you about every step throughout the entire escrow process.
  • Forget the tedious paperwork — we administer all the documentation and communication.