escrow

[ noun es-kroh, ih-skroh; verb ih-skroh, es-kroh ]

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.

verb (used with object)

1. to place in escrow:

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

escrow

/ 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 )

verb

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

escrow

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.

Word History and Origins

Origin of escrow¹

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

Word History and Origins

Origin of escrow¹

C16: from Old French escroe, of Germanic origin; see screed , shred , scroll

Idioms and Phrases

Idioms

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

Example Sentences

The organization intended to use a chunk of the proceeds to develop affordable housing, noting the plan in the escrow instructions of the $81-million sale.

From Los Angeles Times

In reviewing banking records and escrow documents, Versoza said he observed a forged power of attorney document bearing Tascon’s name, which also had a fake notary stamp.

From Los Angeles Times

The document was submitted to the escrow company to facilitate the fraudulent disbursement of funds stemming from the sale.

From Los Angeles Times

Hassanshahi signed multiple escrow documents on Tascon’s behalf as the “seller,” Versoza wrote.

From Los Angeles Times

According to Redfin, 7.8% fewer homes across the U.S. went into escrow during the four weeks that ended Sept 8 compared with a year earlier.

From Los Angeles Times