escrow
escrow Lexical Profile
escrow Game Scores & Validity
• noun
A bond, deed, sum of money, or piece of property held in trust by a neutral third party to be turned over to the grantee only upon the fulfillment of a specified condition.
"The homebuyer's earnest money deposit was placed in escrow until the final inspection and title search were completed."
A financial account established and maintained by a mortgage lender or third-party agent to hold funds collected from a borrower for the payment of property taxes and homeowners insurance.
"A portion of their monthly mortgage payment goes directly into an escrow to cover annual property taxes."
• verb
To place (money, documents, or property) in the custody of a neutral third party until specified conditions are met.
"The two companies agreed to escrow the disputed funds until the arbitration panel reached a final ruling."
• Nearby Words
Word Origin & Etymology
Borrowed in the late 16th century from Anglo-French 'escroue', meaning a scrap, roll of parchment, or bond, a variant of Old French 'escroe' (which also gave English the word 'scroll'), ultimately of Germanic origin.