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Escrow generally refers to money held by a third-party on behalf of transacting parties. It is best known in the United States in the context of real estate (specifically in mortgages where the mortgage company establishes an escrow account to pay property tax and insurance during the term of the mortgage).
Answers.comÂ® is making the world better one answer at a time. Escrow is a a deposit of money and instruments by two or more persons with a third person, which are held by him until certain conditions are met. The process by which a complex sale exchange or loan transaction involving real property is brought to completion.