In Escrow

What does 'In Escrow' mean

In escrow is an item such as money or a piece of property that has been transferred to a third party with the intentions of delivery to a grantee as part of a binding agreement. Valuables in escrow are delivered, generally by an escrow agent, to a grantee upon satisfaction of outlined terms.

BREAKING DOWN 'In Escrow'

Escrowed items are most commonly found in real estate transactions. Property, cash and the title to the property are often held in escrow until all specified conditions are met, and transfer of ownership can occur. Lawyers will most commonly act as escrow agents in such situations.

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RELATED FAQS
  1. Who manages an escrow account?

    Managing an escrow account is a job for a trusted and experienced service provider. Discover the best personal finance solutions ... Read Answer >>
  2. Does the bank set up an escrow account for the buyer and seller in a home sale?

    Learn about the process of escrow and who is responsible for setting up escrow accounts for the buyer and seller in the purchase ... Read Answer >>
  3. Do mortgage escrow accounts earn interest?

    Paying down monthly mortgage escrow accounts? Will you receive any interest on this payment? If you are, should you put more ... Read Answer >>
  4. How does the bank profit off of escrow accounts?

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