The AI-powered English dictionary
countable and uncountable, plural escrows
(law) A contractual arrangement whereby money or assets are held in trust by an independent agent by the agreement of the parties, which can only be released to the relevant party once certain contractual conditions have been fulfilled. quotations examples
The court will decide which party is the rightful owner of the items in escrow.
2006, Kathryn J Haupt, Principles of California Real Estate, page 305
“Well, Dominic,” Della suddenly chimed in. “Seeing as this place of yours is still under escrow, seems to me it's not really yours yet, is it?”
2012, Madison Lake, Jade Lake, Salon Antics, page 22
(informal) The money or assets so held. examples
third-person singular simple present escrows, present participle escrowing, simple past and past participle escrowed
To place in escrow. quotations examples
The regulators suggest that in underwriting these loans, lenders be required to take into account the ability of the borrowers to make monthly payments at the higher rates and also property taxes and homeowners insurance, which are often not escrowed monthly in subprime loans.
2007 March 3, Vikas Bajaj, “U.S. Urges Lenders to Revise Standards on Granting Credit”, in New York Times