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Definitions from the Web

Escrow Account

A escrow account refers to a financial arrangement where a third party holds funds or assets on behalf of a buyer and seller, until certain conditions are met or a transaction is completed.

In a broader sense, an escrow account can also be used for various purposes, such as paying property taxes or insurance premiums, collecting and distributing funds for a mortgage, or securing funds for a legal dispute.

Examples:

As a Noun:

1. The buyer placed the down payment into an escrow account until all the necessary paperwork was signed.

2. The company had an escrow account to hold the funds that were meant for future business development.

As a Verb:

1. The lawyer advised his client to escrow the settlement amount until the terms of the agreement were fulfilled.

2. The landlord requested the tenant to escrow the monthly rental payments to ensure they would be received on time.

Related Products:

To learn more about escrow accounts, you may check out these related products on Amazon:

• Books on Escrow Accounts
• Escrow Account Software
• Escrow Account Services