escrow — English Dictionary

Noun

1. A contractual arrangement whereby money or assets are held in trust by an independent agent by the agreement of the parties, which can only be released to the relevant party once certain contractual conditions have been fulfilled.

   Usage

   • Countable
   • Uncountable

   Examples

   More examples (1)

   GCN staffers wrote and called our landlords, complaining about the building's disrepair, for months before informing them, in September, 1985, that we would pay our rent into an escrow account until repairs were made.

   The court will decide which party is the rightful owner of the items in escrow.

   “Well, Dominic,” Della suddenly chimed in. “Seeing as this place of yours is still under escrow, seems to me it's not really yours yet, is it?”

2. The money or assets so held.

   Usage

   • Countable
   • Informal
   • Uncountable

Verb

1. To place in escrow.

   Related words

   impound

   Examples

   More examples (1)

   The regulators suggest that in underwriting these loans, lenders be required to take into account the ability of the borrowers to make monthly payments at the higher rates and also property taxes and homeowners insurance, which are often not escrowed monthly in subprime loans.

Noun

1. a written agreement (or property or money) delivered to a third party or put in trust by one party to a contract to be returned after fulfillment of some condition

   Broader terms

   written agreement