Definition of standard. 1 : a conspicuous object (such as a banner) formerly carried at the top of a pole and used to mark a rallying point especially in battle or to serve as an emblem.
Escrow Account Defined in Simple Terms. An escrow account is a deposit account that is created by a third party, usually an escrow agent, to hold in trust valuable assets that are tied to a transaction process on behalf of the transacting parties.
(TMFMathGuy). May 25, 2015 at 2:45PM. An escrow account is a broad term that refers to money held by a third party for the purpose of two other parties conducting a transaction, but is most commonly used for real estate purposes.hy lenders use escrow accounts From a lender's perspective, the purpose of having an escrow account is to make sure the property taxes and homeowners get paid every year, on time, to prevent any risk to their investment -- after all, the bank owns a portion of the home until you pay it off.