Trustee

As trustees, civil law notaries hold in escrow money and equivalent assets or documents delivered by a trustor on the basis of an escrow agreement. They undertake to bringing about the legal consequences and satisfy the conditions set out in the escrow agreement.

Notartreuhandbank (NTB) is a special bank set up for the administration of escrows. As co-shareholders, Raiffeisen Zentralbank Österreich AG and Bank Austria Creditanstalt AG have joint and several liability for NTB, which guarantees payments.

In order to administer escrow accounts swiftly and safely, Austria's civil law notaries have set up a special, computerised Escrow Register.