An escrow agent should provide the parties with a receipt for the escrow property, a copy of the escrow agreement and keep complete and accurate records. Escrow Agent shall deliver the Escrow to Seller or Purchaser, as the case may be as follows: i.To Seller, upon completion of the closing under the Contract. Escrowstyle closing in New York involves a neutral third party holding funds and documents until all transaction conditions are met. Escrow agreements are contracts used to ensure that all parties involved meet the terms outlined within the contracts. New York's escrow-style closing uses a neutral third party to hold all necessary documents and funds until every condition of the sale is satisfied. The only persons allowed to be signatories on the trust account are lawyers licensed to practice law in the State of New York.