Escrow

Importance: 0.57

Is a company: no

Is a proper noun: no

Synonyms

  • reliable
  • promise
  • third-person
  • guarantee
  • bond
  • confidence
  • neutral

Definition of Escrow

  1. An account in which a neutral third party holds the documents and money in a real-estate transfer until all conditions of a sale are met. Also, an account in which money for property taxes and insurance is held until paid; money is added to the account every time a mortgage payment is made.

Related Terms and Acronyms

  • Conditional Sale (C/S) Acronym,
    • An agreement between the buyer and seller in where certain conditions must be met before the property sale can be finalized.
  • Escrow Agent Bank,
    • A neutral third party who holds the documents and money in a real-estate transfer until all conditions are met.
  • Trust Account Bank,
    • An account used by a law firm or real estate agent to handle earnest money, funds set aside for repairs and other money that the buyer and seller put up before closing.
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