Escrow Agent

Importance: 0.57

Is a company: no

Is a proper noun: no

Synonyms

  • reliable
  • third-person
  • neutral

Definition of Escrow Agent

  1. A neutral third party who holds the documents and money in a real-estate transaction until all conditions of the property sale are met.

Related Terms and Acronyms

  • Agent (agt) Abbreviation,
    • A person who acts on behalf of another. In real estate, an agent is a person who conducts transactions on behalf of sellers and sometimes buyers.
  • Trust Account Definition,
    • 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.
  • Escrow Definition,
    • 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.
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