Does the escrow agreement have legal effect?

A legally established contract shall come into force upon its establishment, except as otherwise provided by law or agreed by the parties. In accordance with the provisions of laws and administrative regulations, if the contract should go through the approval procedures, such provisions shall prevail. If the failure to go through the formalities such as approval affects the effectiveness of the contract, it will not affect the performance of the obligation clauses such as approval and the effectiveness of relevant clauses in the contract. If the party that should go through the formalities for approval fails to perform its obligations, the other party may require it to bear the responsibility for violating its obligations.

First, the legal effect of the property custody agreement

Custody contract is an incomplete contract, and its legal effect should be determined according to the contents of the contract. The contract is valid as long as there are no following conditions.

(1) One party enters into a contract by means of fraud or coercion, which harms the interests of the state;

(2) Malicious collusion that harms the interests of the state, the collective or a third party;

(3) Covering up illegal purposes in a legal form;

(4) damaging the public interest;

(5) Violating the mandatory provisions of laws and administrative regulations.

Second, the difference between custody agreement and lease agreement

1. Different definitions: house trusteeship is a process in which the owner of the house property transfers the right to use the house to the house business unit in the form of contract, and the house business unit commercializes the right to use the house, including daily management and lease, and bears the risk of the house being left vacant in the middle. Housing lease refers to the behavior that the lessor (usually the owner of the house) rents the house to the lessee for use, and the lessee pays the rent to the lessor.

2. Different contracting objects: house custody refers to the landlord signing a contract with the house management unit, and the owner (or client) entrusts the house to the trustee and signs the entrustment contract, and the trustee finds the lessee for it according to the agreement of the owner. Housing lease is a contract signed by the landlord and the tenant. House leasing is a way of commodity circulation that sells the use value of houses sporadically.

3. What kind of contract does the custody contract belong to?

1. Trusteeship agreement is a civil agreement, which is a contract signed when we entrust others to take care of the trustee instead of us.

2. Laborers enjoy the rights of equal employment and occupation choice, remuneration, rest and vacation, labor safety and health protection, vocational skills training, social insurance and welfare, labor dispute settlement and other labor rights stipulated by law. Laborers should complete labor tasks, improve their professional skills, implement labor safety and health laws and regulations, and observe labor discipline and professional ethics.

Legal basis:

general rules of civil law

Article 65 A civil juristic act may be entrusted in writing or orally. If the law requires it to be in writing, it shall be in writing. The written power of attorney for entrusted agency shall specify the name, agency matters, authority and time limit of the agent, and shall be signed or sealed by the principal. If the power of attorney is unclear, the client shall bear civil liability to the third party, and the agent shall bear joint liability.