- 1A bond, deed, or other document kept in the custody of a third party and taking effect only when a specified condition has been fulfilled.More example sentences
- In the late 1980's and early 90's, homebuyers routinely cancelled escrows at the mere mention of asbestos or radon gas.
- A key part of the arrangement is ensuring that what goes into the escrow is what the licensee expects.
- The death of the grantor whose deed is held in escrow does not invalidate the escrow.
- 1.1 [usually as modifier] A deposit or fund held in trust or as a security: an escrow accountMore example sentences
- Instead, deposit it in an escrow account at a reputable bank and have all checks written from that account to the agent and the county.
- In August, Sanderson claims, the funds somehow vanished as they moved from the escrow account to the payoff department.
- Should you decide to borrow in Florida your lender may include property taxes in your monthly mortgage payments and put them in an escrow account on your behalf.
- 1.2 [mass noun] The state of being kept in custody or trust until a specified condition has been fulfilled: the board holds funds in escrowMore example sentences
- If a vendor on the point of selling found an enforcement notice, he could either postpone exchange of contracts or put contracts in escrow until the appeal was brought.
- The lender collects the payments and holds them in escrow until the taxes are due to be paid.
- To ease similar concerns in the past, transacting parties required sellers to put money in escrow, indemnifying buyers against future environmental liabilities.
verb[with object] chiefly North American Back to top
- Place in custody or trust until a specified condition has been fulfilled: those funds are escrowed for the purpose of improving municipal servicesMore example sentences
- The computer storing these escrowed keys would become a primary target for both physical and cyberterrorism.
- So, if you escrow your tax payment, request that duplicate copies of the bill be sent to you by the tax collector and check to make sure the bill is paid.
- Not only was the insurance rarely considered a deal-saving alternative to escrowed funds, it was barely considered at all.
late 16th century: from Old French escroe 'scrap, scroll', from medieval Latin scroda, of Germanic origin; related to shred.
More definitions of escrowDefinition of escrow in:
- The US English dictionary