escrow account

escrow account
n.
A bank account into which funds are held as security until the escrow condition is fulfilled.

The Essential Law Dictionary. — Sphinx Publishing, An imprint of Sourcebooks, Inc. . 2008.


escrow account
An account opened in the joint names of the seller and buyer or their respective solicitors into which part of the consideration may be paid pending the preparation of the completion accounts and the determination of the value to be attributed to identified assets.

Practical Law Dictionary. Glossary of UK, US and international legal terms. . 2010.

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  • escrow account — / eskrəυ əˌkaυnt/ noun US an account where money is held in escrow until a contract is signed or until goods are delivered …   Marketing dictionary in english

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  • Escrow — is a legal arrangement in which an asset (such as cash, real property or other tangible assets) is deposited into safekeeping (e.g., a bank account) under the trust of a neutral third party (escrow agent) pending satisfaction of contractual… …   Wikipedia

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