Filed Under: Dictionary Says  Definition of 'Escrow'  A
financial instrument held by a third party on behalf of the
other two parties in a transaction. The funds are held by the
escrow service until it receives the appropriate written or oral
instructions or until obligations have been fulfilled.
Securities, funds and other assets can be held in escrow.
Investopedia Says  Investopedia explains 'Escrow'  An escrow
account can be used in the sale of a house, for example. If
there are conditions to the sale, such as the passing of an
inspection, the buyer and seller may agree to use escrow. In
this case, the buyer of the property will deposit the payment
amount for the house in an escrow account held by a third party.
This assures the seller - in the process of allowing the house
to be inspected - that the buyer is capable of making payment.
Once all of the conditions to the sale are satisfied, the escrow
transfers the payment to the seller, and title is transferred to
the buyer.  Articles Of Interest    1. 10 T