escrow

American  

[es-kroh, ih-skroh, ih-skroh, es-kroh] / ˈɛs kroʊ, ɪˈskroʊ, ɪˈskroʊ, ˈɛs kroʊ /

noun

1. a contract, deed, bond, or other written agreement deposited with a third person, by whom it is to be delivered to the grantee or promisee on the fulfillment of some condition.

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verb (used with object)

1. to place in escrow.

   The home seller agrees to escrow the sum of $1000 with his attorney.

idioms

1. in escrow, in the keeping of a third person for delivery to a given party upon the fulfillment of some condition.

escrow British  

/ ɛˈskrəʊ, ˈɛskrəʊ /

noun

1. money, goods, or a written document, such as a contract bond, delivered to a third party and held by him pending fulfilment of some condition

2. the state or condition of being an escrow (esp in the phrase in escrow )

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verb

1. to place (money, a document, etc) in escrow

escrow Cultural  

1. The condition of being ineffective until certain conditions are met. For example, money inherited by a minor might be held in escrow until the heir reaches a certain age. Homeowners with mortgages frequently pay money for insurance and taxes on their home into an escrow account each month. The holder of the mortgage then pays the insurance and tax bills out of the escrow account when the bills are due.

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Etymology

Origin of escrow

First recorded in 1590–1600; from Anglo-French escro(u)we, from Old French escro(u)e; scroll

Example Sentences

The firm said it had placed $7.5 billion into an escrow account.

From Los Angeles Times

The investment would be held in escrow for 70 years.

From MarketWatch

The New York Lawyers’ Fund for Client Protection reimburses clients for financial losses — up to $400,000 per claim — caused by dishonest conduct of attorneys, such as theft of escrow or estate assets.

From MarketWatch

Contact your mortgage servicer immediately to request an escrow analysis or a longer repayment period for the escrow shortage, as lenders can sometimes spread repayment over more months.

From MarketWatch

“I apply for a loan, lock in my bitcoin in an on-chain escrow, and receive funds. Why don’t more people do what I’m doing? What’s the catch? I don’t see one.”

From MarketWatch