Escrow is a legal arrangement where an independent third party holds and regulates the payment of funds required for two parties involved in a given transaction. It helps make transactions more secure by keeping the payment in an escrow account, which is only released when all the terms of an agreement are met as overseen by the third party. Escrow services can be used for many different types of payments, but are commonly used for real estate transactions.
Escrow
« Back to Glossary Index
