escrow

escrow definition - business

escrow

The holding of assets, including legal documents or cash, by a third party. For example, the owner of real property may be required to leave a deed in custody of a third party until a loan is completely repaid. See also trust account.

The American Heritage® Dictionary of Business Terms Copyright © 2009 by Houghton Mifflin Harcourt Publishing Company. Published by Houghton Mifflin Harcourt Publishing Company. All rights reserved.

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