FAQ - Escrow Agencies and Escrow Agents

Escrow Agencies and Escrow Agents

1. What is an escrow under NRS 645A?

Escrow means any transaction wherein one person, for the purpose of effecting or closing the sale, purchase, exchange, transfer, encumbering or leasing of real or personal property to another person or persons, delivers any written instrument, money, evidence of title to real or personal property, or other thing of value to a third person to be held by such third person until the happening of a specified event or the performance of a prescribed condition, when it is then to be delivered by such third person, in compliance with instructions under which he or she is to act, to a grantee, grantor, promise, promisor, oblige, obligor, lessee, lessor, bailee, bailor, or any agent or employee thereof.

The term includes the performance of the services of a construction control.
[NRS 645A.010(7)]

2. What is an escrow agency under NRS 645A?

An escrow agency means:

  • Any person who employs one or more escrow agents; or
  • An escrow agent who administers escrows on his or her own behalf

[NRS 645A.010(8)]

3. What is an escrow agent under NRS 645A?

An escrow agent is any natural person employed by and associated with an escrow agency engaged in the business of administering escrows for compensation.
[NRS 645A.010(9)]

4. What is the business of administering escrow under NRS 645A?

The business of administering escrows is the process of managing, conducting, or supervising an escrow or escrow-related transaction as an escrow agent or escrow agency.
[NRS 645A.010(1)]

5. What is a control person under NRS 645A?

A control person is an executive officer, director, general partner, trustee, member or shareholder of an applicant or a licensee, or a person, who has the authority to participate in the direction, directly or indirectly through one or more other persons, of the management or policies of an applicant or licensee.
(NRS 645A.010)

6. Who is required to be licensed as an escrow agency or escrow agent under NRS 645A?

Any person who engages in, carries on, or holds himself or herself out as engaging in or carrying on the business of administering escrows or acts in the capacity of an escrow agent or escrow agency within this State or with respect to any transaction involving real or personal property located in this State must be licensed as an escrow agent or escrow agency.
(NRS 645A.015)

7. How do I apply for an escrow agency or escrow agent license?

An application for a license as an escrow agency or escrow agent shall be made in writing to the Commissioner with all required documents and applicable fees.

If applying for an initial escrow agency license for a principal location and branch location(s) or adding a branch location(s) to an existing license, use the Escrow Agency Application Company Form (MLD Form No. 101). For further instructions, please reference the Escrow Agency Company Form Instructions located on the Escrow Agencies and Agents page on the Division’s Website.

If applying for an initial escrow agent license, use the Escrow Agent Application and Control Person Individual Form (MLD Form No. 105). For further instructions, please reference the Individual Form Instructions located on the Escrow Agencies and Agents page on the Division’s Website.

Applicants will need to provide written consent authorizing the Commissioner to conduct a background investigation and, if applicable, each control person of the applicant, including, without limitation, authorization to obtain:

  • An independent credit report from a consumer reporting agency;
  • A criminal history report from the Federal Bureau of Investigation or any criminal history repository of any state, national or international governmental agency or entity; and
  • Information related to any administrative, civil, or criminal proceedings in any jurisdiction in which the applicant, or a control person of the applicant, is or has been a party.


Applicants will need to provide a complete set of fingerprints, or if the applicant is not a natural person, a complete set of fingerprints of each control person of the applicant to forward to the Central Repository for Nevada Records of Criminal History for submission to the Federal Bureau of Investigation for its report.

A natural person who is an applicant for an initial license as an escrow agent must complete at least 15 hours of instruction. A certificate of completion, in a form satisfactory to the Commissioner, must be presented upon application and state that the applicant has successfully completed the 15 hours of instruction.
(NRS 645A.020; NRS 645A.0405; NAC 645A.070)

8. How do I apply for renewal of an escrow agency or escrow agent license?

All escrow agency and escrow agent licenses expire on July 1 each year. An application for renewal of a license as an escrow agency or escrow agent shall be made in writing to the Commissioner with all required documents and applicable fees. Application for an escrow agency license renewal (MLD Form 103) can be found on the Division’s website along with the application for an escrow agent licensee renewal (MLD Form No. 106).

The same form, Application for Renewal of Escrow Agency License (MLD Form No. 103), is used for an escrow agency’s principal location as well as any branch location(s). The form can be found on the Division’s Website on the Escrow Agencies and Agents page under Industry Information.
(NRS 645A.034)

To assist you in the license renewal process, the Division provides General Instructions and Checklists for both Escrow Agency license renewals and Escrow Agent license renewals. Both checklists can also be found on the Division’s website.

The licensee must include the following with the application for renewal:

  • Any renewal fee required pursuant to NRS 645A.040;
  • All content required by the Commissioner in the application form; and
  • Any other information required


If a licensee fails to pay the fee or submit all required information for the annual renewal of his or her license before its expiration, the license may be renewed only upon the payment of a fee one and one-half times the amount otherwise required for renewal.
(NRS 645A.020; NRS 645A.040)

9. Does Nevada have a "brick and mortar" requirement to obtain a license as an escrow agency?

Yes. Every escrow agency shall maintain a definite place of business, which must be a room or rooms used for the transaction of escrows, or such business and any allied businesses, and which must serve as the office for the transaction of business pursuant to the authority granted in the license.

The place of business must be specified in the application for the license and so designated on the license.

The license does not authorize the licensee to transact business from any office other than that designated in the license.
(NRS 645A.036)

10. How should licenses be kept and displayed?

The license of each escrow agent must be delivered or mailed to the escrow agency with whom the licensee is associated and kept in the custody and control of the escrow agency.

The license of each escrow agency and of each escrow agent associated with that agency must be displayed conspicuously in the agency’s place of business. If an escrow agency maintains more than one place of business within the State, an additional license must be issued to each branch office, and the additional license must be displayed conspicuously in each branch office.
(NRS 645A.034)

11. How long must a licensed escrow agency or escrow agent maintain its records for examination by the Commissioner? What records must be maintained?

All escrow agents and agencies must maintain, for a period of not less than six years after final disposition of an escrow transaction, complete and suitable records of all escrow transactions made by them. A record of a transaction must be maintained in the county in which the property to which it relates is located if the agent or agency maintains a place of business in that county. If a place of business is not maintained in that county, the record must be maintained in the agent’s or agency’s principal place of business.

Each escrow agency shall maintain records in relation to trust accounts:

  • All records of the transaction, including, without limitation, checkbooks, cancelled checks, check stubs, vouchers, ledgers, journals, closing statements, accountings and other statements of disbursements rendered to a client or other party with regard to the trust account; and
  • Any records that are related to the trust account which clearly reflect the date, amount, source, and explanation for any receipt, withdrawal, delivery, or disbursement of the funds or other property of a client with regard to the trust account.

The records for trust accounts must be prepared in accordance with generally accepted accounting principles and available for inspection by the Division upon request.
(NRS 645A.070; NAC 645A.250)

12. Are branch locations required to be licensed? If so, how do I apply for a branch office?

Yes. If an escrow agency maintains more than one place of business within the State, an additional license must be issued to each branch office so maintained, and the additional license must be displayed conspicuously in each branch office.

The same form, Escrow Agency Application Company Form (MLD Form No. 101), is used for an initial escrow agency principal location as well as any branch location(s). The form can be found on the Division’s Website on the Escrow Agencies and Agents page under Industry Information.
(NRS 645A.034)

13. When will my escrow agency or escrow agent license expire?

Every license issued pursuant to the provisions of NRS 645A expires on July 1 of each year if it is not renewed. A license may be renewed by filing an application for renewal, paying the annual fee for the succeeding year, and submitting all information required to complete the renewal.

There are separate applications for renewing an escrow agency license and an escrow agent license. Escrow agencies will apply using the Application for Renewal of Escrow Agency License (MLD Form No. 103) and escrow agents need to use the Application for Renewal of Escrow Agent License (MLD Form No. 106). Both applications can be found on the Division’s Website.

Please see the Escrow Agency Renewal General Instructions and Checklist which can be located by visiting the Escrow Agencies and Agents page under Industry Information on the Division’s Website.

If a licensee fails to pay the fee or submit all required information for the annual renewal of his or her license before its expiration, the license may be renewed only upon the payment of a fee one and one-half times the amount otherwise required for renewal.
(NRS 645A.040)

If you have any further questions, please contact the Division of Mortgage Lending at 702-486-0782.