Final answer:
Altering escrow instructions once they are signed is typically not allowed. Escrow instructions are a legally binding agreement between parties involved in a transaction that outline the terms and conditions of the transaction. Attempting to alter escrow instructions can have serious legal consequences.
Step-by-step explanation:
Altering escrow instructions once they are signed is typically not allowed. Escrow instructions are a legally binding agreement between parties involved in a transaction, such as the buyer, seller, and escrow agent. These instructions outline the terms and conditions of the transaction, including how the funds should be distributed. Once the instructions are signed, they are considered final and cannot be changed without the consent of all parties involved.
For example, in a real estate transaction, escrow instructions may specify that the buyer's funds should be held in escrow until certain conditions, such as a home inspection, are met. If the buyer or seller wants to change these instructions after they are signed, they would typically need to draft an amendment or addendum to the original agreement and have all parties involved agree to the changes.
Attempting to alter escrow instructions without proper authorization can have serious legal consequences and may result in a breach of contract.