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Escrow
Meaning
Noun
●
In Law:
A
written
instrument
, such as a
deed
,
temporarily
deposited
with a
neutral third
party
(the
escrow
agent
), by the
agreement
of two
parties
to a
valid
contract
. The
escrow
agent
will
deliver
the
document
to the
benefited
party
when the
conditions
of the
contract
have been
met
. The
depositor
has no control over the
instrument
in
escrow
.
●
In Law:
In
common law
,
escrow
applied
to the
deposits
only of
instruments
for
conveyance
of
land
, but it now
applies
to all
instruments
so deposited.
●
In Law:
Money or other
property
so
deposited
is also
loosely
referred
to as escrow.
●
The state of
property
deposited
with an
escrow
agent.
Verb
●
To place in escrow.
Sourced from
Wiktionary
Origin
escrow
English
escrowl
Middle English (1100-1500)
escroue
Old French (842-ca. 1400)
Sourced from
Etym
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