Dena Yago

In Escrow

30 Apr - 10 Jun, 2016. Paris

Exhibition details:
Dena Yago
In Escrow
Apr 30 – Jun 10, 2016

17, rue des Panoyaux
75020 Paris

In escrow is known to most by its use on real estate signs, hanging below
the placard for the indeterminate period of time after for sale and before
sold. In this regard, being in escrow means that a buyer has shown
committed interest in the property by making an additional mortgage
payment designated for property taxes and hazard insurance. This is
known as T&I, for taxes and insurance, which, in addition to standard
mortgage insurance consisting of principal and insurance (or P&I) is
referred to as PITI (pronounced “pity”).

An asset is a resource controlled by an entity from which future economic
benefits are expected to flow. It must be owned or controlled to produce
value or have positive economic value. Tangible assets include anything
from real estate to the body, while intangible assets include trademarks or
intellectual property. In programming, an asset refers to CSS, JavaScript,
and image files – all front-end elements that control the appearance of a
web page. Assets (plural) is a term also used to refer to a person’s ass,
breast, legs or hips. Speaking of one’s body in terms of long-term
investment may feel familiar – a mother telling her daughter to protect her
assets might be said to mean that she should control her appearance and
furthermore regulate other people’s access to it.

More broadly, escrow is a contractual agreement in which a third party
receives and holds assets for primary transacting parties. Disbursement is
contingent on an agreement being met, or a set term of conditions being
fulfilled. Again, in real estate, when withholding rent from a landlord one
might put their rent in an escrow account in order to prove that you do, in
fact, have the money, but that you won’t hand it over until say, the heating
has been fixed. In essence this is a principle of proving that you have
something by putting it in the hands of a neutral third party. Putting one’s
assets in escrow is an act of demonstrative forfeit. You’re showing your
cards to prove that you have them, then losing the hand.

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