26984 words

escrow

5 definitions • 7 examples
1
an agreement between two people or organizations in which money or property is kept by a third person or organization until a particular condition is met :

Examples:

The agreement with the investment bankers did not call for escrow of fees.
The broker has responsibility for the funds in the escrow account.
2
If money is in escrow, it is being kept by a third person or organization until a particular condition of an agreement between two other people or organizations is met:

Examples:

The money was placed in escrow.
3
If a house for sale is in escrow, or if people are in escrow on a house, a price has been agreed and the buyer has paid some money but the sale is not complete until legal checks have been made. :

Examples:

The property is now in escrow.
4
If a house for sale or the contract for the sale falls out of escrow, the sale process fails after a price has been agreed and the buyer has paid some money, but before the process is complete. :

Examples:

Two multimillion-dollar properties fell out of escrow recently when the buyers learned of the proposed zoning ordinance.
5
an agreement between two people or organizations in which money or property is kept by a third person or organization until a particular condition is met:

Examples:

The money was placed in escrow.

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