escrow
- Escrow refers to any document, often property-related, or monetary amount held by an unrelated third party, whose distribution to the receiving party hinges upon certain agreed conditions being met
- An escrow can also indicate a specific pool of resources or deposit that is specifically set up to function as a secured holding until certain obligations are fulfilled
- The act of putting documents, property, or money under the custody of a neutral third party with the understanding that it will be released upon the satisfaction of certain prerequisites is referred to as 'to place in escrow'
- The home buyer and the seller agreed to use an escrow to ensure the house inspections were completed before the transaction.
- As part of the online transaction, the funds were placed in escrow until the buyer confirmed receipt of the purchased goods.
- To safeguard the investment, they decided to place the funds in escrow until all contractual conditions were met.
Provide Feedback
