IN ESCROW Meaning and
Definition
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"In escrow" is a term used in the context of financial transactions to describe a situation where certain assets, such as cash, securities, or property, are held by a third party on behalf of two or more parties involved in a transaction. This third party is often referred to as an "escrow agent" or "escrow holder."
The funds or assets held in escrow are typically deposited by one party to ensure that a specific obligation or condition is fulfilled before the assets are released to the other party. This arrangement provides a level of security and protection to all the parties involved in the transaction.
During this period, the escrow agent acts as a neutral intermediary, following the instructions agreed upon by the parties involved. These instructions outline the conditions that need to be met before the escrow can be released, such as the completion of certain documents, verification of payments, or other contractual obligations.
Common examples of transactions where assets may be held in escrow include real estate purchases, mergers and acquisitions, legal settlements, or the purchase of high-value goods. Once the conditions have been met, and all parties are satisfied, the escrow agent will release the assets to their respective owners.
Overall, "in escrow" refers to the state of assets being held by a third party until certain conditions or obligations are fulfilled, providing security and protection for all parties involved in a transaction.
Common Misspellings for IN ESCROW
- un escrow
- jn escrow
- kn escrow
- on escrow
- 9n escrow
- 8n escrow
- ib escrow
- im escrow
- ij escrow
- ih escrow
- in wscrow
- in sscrow
- in dscrow
- in rscrow
- in 4scrow
- in 3scrow
- in eacrow
- in ezcrow
- in excrow
- in edcrow
Etymology of IN ESCROW
The term "in escrow" has its origins in the legal and financial domain.
The word "escrow" itself can be traced back to the Old French word "escroue", meaning a "scroll" or "scrap of paper". In medieval times, a scroll or document was often used to represent an agreement or legal undertaking.
The concept of escrow emerged in English law in the 16th century. It referred to a deed, bond, or money that was delivered to a third party and held by them until certain conditions were fulfilled or a specified future event occurred. The third party, known as an "escrow agent", would act as a neutral intermediary, ensuring that both parties fulfilled their obligations before the transaction was completed.
Over time, the term "in escrow" came into use to describe a situation where money, property, or other assets are held by a third party until certain conditions are met.
Idioms with the word IN ESCROW
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in escrow
In escrow refers to money or property that is held by a third party on behalf of the buyer and seller in a transaction until certain conditions are met.
Similar spelling word for IN ESCROW
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