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

/ ˈɛskrəʊ; ɛˈskrəʊ /

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

Investors’ funds were held in escrow for two years while Jiko pursued purchasing 63-year-old Mid-Central National Bank, based in Minnesota, a deal it consummated in September.

From Fortune

Ant began when Alibaba launched the Alipay payments app in 2004 as an escrow service for buyers and sellers on Ma’s e-commerce website.

From Fortune

The foundation sued, eventually extracting Prospect’s agreement to submit the matter to arbitration while putting the money into escrow.

From ProPublica

When Prospect then missed the escrow deadline, the foundation began garnishing the company’s accounts and sought to have a receiver appointed over all its financial transactions.

From ProPublica

Apple had started to amass the funding needed to pay the fine in an escrow account after the original ruling in 2016 but hadn’t commenced in doing so.

From TechCrunch

The president said that a BP “evergreen” escrow would be set up for claims and will be managed by a third party.

From The Daily Beast

"An escrow of a billion-plus is only a down payment of the potential costs," said Miller.

From The Daily Beast

Understand—all money that comes from the mine is held in escrow until this case is decided.

From Project Gutenberg

It must still remain in escrow as the bond of Harry until the case was decided, and that might mean years.

From Project Gutenberg

This would have meant forfeiting her marriage settlement and the sum that was in escrow.

From Project Gutenberg