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Escrow

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Noun

escrow

Definition: a written agreement (or property or money) delivered to a third party or put in trust by one party to a contract to be returned after fulfillment of some condition

Definition: A written instrument, such as a deed, temporarily deposited with a neutral third party (the escrow agent), by the agreement of two parties to a valid contract. The escrow agent will deliver the document to the benefited party when the conditions of the contract have been met. The depositor has no control over the instrument in escrow.

Verb

Definition: To place in escrow.

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