Texas Continuing Care Retirement Community (CCC) Release of Funds from Escrow is an agreement between the CCC and its residents to release funds from a trust account that was established as part of the CCC contract. The funds in this account are held in escrow and are used to pay for the cost of care provided to the resident. The release of funds from escrow is governed by Texas state law and is used to protect the resident and the CCC from financial harm. There are two types of Texas Continuing Care Retirement Community (CCC) Release of Funds from Escrow: a voluntary release of funds and a mandatory release of funds. A voluntary release of funds occurs when the resident agrees to relinquish the funds in the trust account, while a mandatory release of funds occurs when the state requires the CCC to release the funds. In either case, the funds are used to pay for care services for the resident.
Texas Continuing Care Retirement Community (CCRC) Release of Funds from Escrow
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