Difference between revisions of "Escrow"
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| − | Escrow is the money or a written instrument such as a [[deed]] that, by agreement between two parties, is held by a neutral third party (held in escrow) until all conditions of the agreement are met. | + | '''Escrow''' is the money or a written instrument such as a [[deed]] that, by agreement between two parties, is held by a neutral third party (held in escrow) until all conditions of the agreement are met. |
In other words, escrow is money held but not released until certain conditions are met. | In other words, escrow is money held but not released until certain conditions are met. | ||
[[category:legal terms]] | [[category:legal terms]] | ||
Revision as of 02:38, March 11, 2008
Escrow is the money or a written instrument such as a deed that, by agreement between two parties, is held by a neutral third party (held in escrow) until all conditions of the agreement are met.
In other words, escrow is money held but not released until certain conditions are met.