1
Law::
escrow; escrow agent : An escrow is 1. a legal document or property delivered by promisor to a third party to be held by the third party for a given amount of time or until the occurrence of a condition, at which time the third party is to hand over the document or property to the promisee (the agent received the escrow two weeks before the closing date( 2. an account held in trust or as security (the earnest money is in escrow(. – Also termed escrow account; impound account 3. the holder of such account, property, or deposit (the attorney performed the function of escrow(. – Also termed escrow agent.
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