Nondepository Division of the Office of Financial Institutions regulates the
licensing of bond for deed escrow agents operating within the state of
Louisiana. A “bond for deed escrow agent” is defined
as a person designated by the parties to a bond for deed transaction who
distributes payments made by the buyer, on behalf of a seller, to the holder
of a mortgage or privilege (if any) in the real property subject to the bond
for deed in accordance with a written bond for deed escrow agent agreement. A
“bond for deed” is a contract to sell real property in which the purchase
price is to be paid by the buyer to the seller in installments and in which
the seller, after payment of a stipulated sum, agrees to deliver title to
The term includes a “contract for deed” or any other
transaction operating as a conditional sale of real property however
Requirements for licensure as a bond for deed escrow agent
A surety bond or a deposit in trust in the amount of
$10,000 for the initial licensure with said bond or deposit to be adjusted
annually based upon the business activity of the preceding calendar year.
A net worth of at least $25,000.
An initial license fee of $150 with and annual renewal
fee of $100.
Penalties are provided for delinquent renewals.
Records must be maintained at the
licensed location for three years unless otherwise permitted in writing by
A complaint file must be maintained.
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