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Delaware · 24 Del. C. §2923Delaware earnest money: the escrow account and the 72-hour deposit rule

Every Delaware broker keeps one or more escrow accounts in a federally insured bank with offices in the state, opened in the brokerage's name, designated as escrow and with the broker as a signatory, used only for escrow deposits, earnest money, rental money and other money held for customers or clients (24 Del. C. §2923(a)). When all parties sign a written agreement, the licensee promptly pays over the earnest money or other deposit, and the broker deposits it into the escrow account within 72 hours of the signing – or by the dates the agreement defines – excluding weekends and federal holidays (§2923(d)). The broker keeps the books, records and agreements needed to check the escrow account at its place of business, open to the Commission's inspection and audit during business hours (§2923(e)).

The rules

  1. 1. Escrow account (§2923(a))

    Federally insured bank with Delaware offices; in the brokerage's name; escrow money only.

  2. 2. 72 hours (§2923(d))

    From all parties' signatures, or by the agreement's dates; weekends and federal holidays excluded.

  3. 3. Records (§2923(e))

    Kept at the broker's place of business for inspection and audit.

What the TC can do

  • Count 72 hours from the last signature, skipping weekends and federal holidays, unless the agreement sets other dates.
  • Get the escrow deposit receipt into the file.
  • If a third party holds the deposit, note who and the agreement's terms.

Questions about Delaware earnest money

How fast must a Delaware broker deposit earnest money?

Within 72 hours after all parties sign the written agreement, or by the dates it defines, excluding weekends and federal holidays (24 Del. C. §2923(d)).

Where does Delaware earnest money go?

Into the brokerage's escrow account at a federally insured bank with offices in Delaware (§2923(a)).

Related guides

Track the 72-hour escrow deadline as a task in ClosingCode, with an owner and a due date.

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Source: Delaware Code Title 24 §2923 (delcode.delaware.gov, read October 26, 2026).

General information, not legal advice. ClosingCode is software; it is not a law firm or brokerage. This guide is not a substitute for the advice or services of an attorney.