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For escrows of computer source code, see source code escrow. An escrow is: a contractual arrangement in which a third party receives and disburses money or documents for the primary transacting parties, with the disbursement dependent on conditions agreed to by the transacting parties, or.
  Answer   An escrow account associated with a mortgage is an account that is maintained by the mortgage holder and funded by the mortgagee. Part of the monthly mor â¦ tgage payment goes into this escrow account to pay for property insurance and property taxes.