Attorney's escrow – A contractual institution in which, on the basis of a written escrow agreement, an attorney takes over funds or other valuables (e.g. documents) from a client or a third party with the obligation to keep them safe and issue them to an authorized person after the fulfillment of previously agreed conditions. The attorney is obliged to handle the stored funds in accordance with the instructions of the parties to the contract, the law and professional regulations, to keep them in a special bank account separate from his/her property and to inform the depositor of each movement. The purpose of attorney's escrow is mainly the safe settlement of financial transactions, typically when transferring real estate, and to minimize the risk for the contracting parties (Section 2402 et seq. of the Civil Code; Section 56 et seq. of Act No. 85/1996 Coll., on advocacy; Resolution of the Board of Directors of the Czech Bar Association No. 7/2004 of the Bulletin).