noun “escrow”
singular escrow, plural escrows or uncountable
- an arrangement where money or property is held by a third party until certain conditions are met
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The buyer deposited the payment into escrow until the seller completed the repairs.
- the money or property held by a third party until certain conditions are met
The escrow will be released once all the paperwork is finalized.
verb “escrow”
infinitive escrow; he escrows; past tense escrowed; past part. escrowed; ger. escrowing
- to place money or property with a third party until certain conditions are met
The company escrowed the payment until the new software was delivered and tested.