escrow
- 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.
- to place in escrow: The home seller agrees to escrow the sum of $1000 with his attorney.
- in escrow, in the keeping of a third person for delivery to a given party upon the fulfillment of some condition.
Origin of escrow
Examples from the Web for escrow
Contemporary Examples
The president said that a BP “evergreen” escrow would be set up for claims and will be managed by a third party.
"An escrow of a billion-plus is only a down payment of the potential costs," said Miller.
Historical Examples
This would have meant forfeiting her marriage settlement and the sum that was in escrow.
The Indulgence of Negu MahRobert Andrew Arthur
Understand—all money that comes from the mine is held in escrow until this case is decided.
The Cross-CutCourtney Ryley Cooper
It must still remain in escrow as the bond of Harry until the case was decided, and that might mean years.
The Cross-CutCourtney Ryley Cooper
escrow
- 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
- the state or condition of being an escrow (esp in the phrase in escrow)
- to place (money, a document, etc) in escrow
Word Origin
Word Origin and History for escrow
n.
1590s, from Anglo-French escrowe, from Old French escroue "scrap, roll of parchment," from a Germanic source akin to Old High German scrot "a scrap, shred, a piece cut off" (see shred (n.)). Originally "a deed delivered to a third person until a future condition is satisfied;" sense of "deposit held in trust or security" is from 1888.
escrow
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.