Escrow

usgb/ˈɛs.kroʊ/
noun

Escrow is a legal arrangement in which a third party temporarily holds money or property until a specified condition is met.

The buyer's deposit will be held in escrow until the sale is finalized.
Visual representation of "escrow" - Escrow is a legal arrangement in which a third party temporarily holds money or property until a specified condition is met.

Usage tips

Formal

escrow account, escrow agent, escrow agreement

Definition 1 of 2
Visual representation of "escrow"
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Always confirm the terms of escrow

Make sure you know the conditions that release funds

Illustration for Always confirm the terms of escrow
Understand the role of the escrow agent to ensure a fair transaction.
Visual representation of the word "Escrow"

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