a written agreement (or property or money) delivered to a third party or put in trust by one party to a contract to be returned after fulfillment of some condition
A written instrument, such as a deed, temporarily deposited with a neutral third party (the Escrow agent), by the agreement of two parties to a valid contract. The escrow agent will deliver the document to the benefited party when the conditions of the contract have been met. The depositor has no control over the instrument in escrow.
In common law, escrow applied to the deposits only of instruments for conveyance of land, but it now applies to all instruments so deposited.
Money or other property so deposited is also loosely referred to as escrow.
To place in escrow.
Origin: From escrowl, from escroue.
a deed, bond, or other written engagement, delivered to a third person, to be held by him till some act is done or some condition is performed, and then to be by him delivered to the grantee
Origin: [OF. escroe, escroue, a roll of writings, bond. See Scroll.]
An escrow is: ⁕an arrangement made under contractual provisions between transacting parties, whereby an independent trusted third party receives and disburses money or documents for the transacting parties, with the timing of such disbursement by the third party dependent on the fulfillment of contractually-agreed conditions by the transacting parties, or ⁕an account established by a broker, under the provisions of license law, for the purpose of holding funds on behalf of the broker's principal or some other person until the consummation or termination of a transaction; or, ⁕a trust account held in the borrower's name to pay obligations such as property taxes and insurance premiums. The word derives from the Old French word escroue, meaning a scrap of paper or a roll of parchment; this indicated the deed that a third party held until a transaction was completed.
The numerical value of escrow in Chaldean Numerology is: 8
The numerical value of escrow in Pythagorean Numerology is: 2
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