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escrow
This term is primarily used in legal and real estate contexts, carrying a formal and technical register. It describes a protective mechanism designed to mitigate risk between two parties who may not fully trust one another, ensuring that neither side is cheated during a transaction.
When used as a noun, it refers to the arrangement or the account itself. When used as a verb, it describes the act of depositing assets into this arrangement. It is distinct from a simple deposit or payment because it requires a neutral third-party intermediary to oversee the release of funds based on specific contractual triggers.
Meanings
Examples
The funds are currently being held in escrow until the inspection is complete.
We should put the deposit in escrow to protect both parties.
The house is now in escrow, so we cannot accept any more offers.
I wonder if the escrow agent has verified the title deed yet.
The buyer agreed to escrow the payment until the software was delivered.
Once the conditions are met, the escrow will be released to the seller.
Just put the money in escrow and we will sign the contract tomorrow.
The company decided to escrow a portion of the purchase price for potential liabilities.