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.

Look at other dictionaries:

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  • escrow account — A bank account generally held in the name of the depositor and an escrow agent which is returnable to depositor or paid to third person on the fulfillment of escrow condition; e.g. funds for payment of real estate taxes are commonly paid into… …   Black's law dictionary

  • escrow account — A bank account generally held in the name of the depositor and an escrow agent which is returnable to depositor or paid to third person on the fulfillment of escrow condition; e.g. funds for payment of real estate taxes are commonly paid into… …   Black's law dictionary

  • 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 account — A bank account created by a special deposit to be held in escrow and returned to the depositor upon the occurrence of a specified contingency. 10 Am J2d Banks § 366 …   Ballentine's law dictionary

  • 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

  • escrow — I noun conditional deed held in trust, conditional instrument, contingent deed held in trust, entrustment, instrument held until the performance of a condition, written instrument of contingency II index binder Burton s Legal Thesaurus. William C …   Law dictionary

  • Escrow payment — is the common term referring to the portion of a mortgage payment that is designated to pay for real property taxes and hazard insurance. It is an amount over and above the principal and interest portion of a mortgage payment. Since the escrow… …   Wikipedia

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