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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).
escrow-Investment & Finance Definition. An account that holds money or securities until some agreed upon event or condition is met. Escrows typically are used when purchasing a home. The down payment, or good faith deposit, goes into an escrow account and is held until the funds are disbursed to the seller at closing.