If you buy a house, you'll have to put money in escrow, which means you give it to a third party (like a bank), while the seller actually brings the deed and signs it over to you.
A deed, bond, or other written engagement, delivered to a third person, to be held by him till some act is done or some condition is performed, and then to be by him delivered to the grantee.
Noun
a written agreement (or property or money) delivered to a third party or put in trust by one party to a contract to be returned after fulfillment of some condition
n.
A deed, bond, or other written engagement, delivered to a
third person, to be held by him till some act is done or some condition
is performed, and then to be by him delivered to the grantee.
Escrow
A deed, bond, or other written engagement, delivered to a third person, to be held by him till some act is done or some condition is performed, and then to be by him delivered to the grantee.
Usage Examples
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