Definition of escrow in English:

escrow

Syllabification: es·crow
Pronunciation: /ˈeskrō
 
/
Law

noun

1A bond, deed, or other document kept in the custody of a third party, 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 account
More 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.
1.2The state of being kept in custody or trust: the board holds funds in escrow
More 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.
More 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.

Origin

late 16th century: from Old French escroe 'scrap, scroll', from medieval Latin scroda, of Germanic origin; related to shred.

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