Law of Property Act 1925: Fundamental legislation governing property law and contracts in England and Wales, essential for understanding the basic framework of property transfers and contractual obligations in escrow arrangements
Law of Property (Miscellaneous Provisions) Act 1989: Specifies formal requirements for creating certain types of contracts and property arrangements, including requirements for written form and execution
Financial Services and Markets Act 2000: Regulates financial services and markets in the UK, particularly relevant if the escrow involves regulated financial activities or authorized persons
Money Laundering Regulations 2017: Sets out the requirements for preventing money laundering and terrorist financing, including due diligence and reporting obligations in financial transactions
Proceeds of Crime Act 2002: Criminal law statute dealing with money laundering and proceeds of crime, relevant for ensuring escrow arrangements don't facilitate illegal activities
Trustee Act 2000: Governs trustees' duties and powers, relevant as escrow agents often act in a trustee-like capacity holding property for others
Electronic Communications Act 2000: Provides legal framework for electronic signatures and communications, important if the escrow release letter will be executed electronically
UK GDPR and Data Protection Act 2018: Regulates the processing of personal data, ensuring compliance in handling personal information within the escrow arrangement
Payment Services Regulations 2017: Governs payment services and electronic money institutions, relevant if the escrow release involves bank transfers or other payment services
