Background for escrows
BeDict Logo

escrows

/ˈeskroʊz/ /ˈeskroʊs/

Meanings
noun
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.

Examples :

"The funds for the new car were held in escrows until the dealership completed all the necessary paperwork and the car was delivered. "
property law finance business

Related Words

Illustration instrument

instrument noun

/ˈɪnstɹəmənt/

A device used to produce music.

"The violinist was a master of her instrument."

Illustration conditions

conditions noun

/kənˈdɪʃənz/

A logical clause or phrase that a conditional statement uses. The phrase can either be true or false.

"The program will run smoothly under these conditions: the computer has enough memory and the internet connection is stable. "

Illustration temporarily

temporarily adverb

/ˈtɛmp(ə)ɹəɹəli/ /ˌtɛmpəˈɹɛɹəli/

For a limited period of time; not permanently.

"The store is temporarily closed for renovations. "

Illustration benefited

benefited verb

/ˈbɛnəˌfɪtɪd/ /ˈbɛnəfɪtəd/

To be or to provide a benefit to.

"The community benefited from the new park, as it provided a safe place for children to play. "

Illustration transaction

transaction noun

/tɹænˈzækʃən/

The act of conducting or carrying out (business, negotiations, plans).

"The transaction was made on Friday with the supplier."

Illustration deposited

deposited verb

/dɪˈpɒzɪtɪd/ /dɪˈpɑzɪtɪd/

To lay down; to place; to put.

"A crocodile deposits her eggs in the sand."

Illustration instruments

instruments noun

/ˈɪnstɹəmənts/

A device used to produce music.

"The violinist was a master of her instrument."

Illustration dealership

dealership noun

/ˈdiːləʃɪp/

A place that sells items, especially cars.

"I visited the car dealership today."

Illustration conveyance

conveyance noun

/kənˈveɪn̩s/

An act or instance of conveying.

"The conveyance of the package from the post office to my house was surprisingly quick. "

Illustration depositor

depositor noun

/dɪˈpɑzɪtər/ /dəˈpɑzɪtər/

A person who makes a deposit, especially a deposit of money in a bank

"The bank teller helped the depositor count the money before putting it into her account. "

Illustration agreement

agreement noun

/əˈɡɹiːmənt/

An understanding between entities to follow a specific course of conduct.

"to enter an agreement;  the UK and US negotiators nearing agreement;  he nodded his agreement."

Illustration completed

completed verb

/kəmˈpliːtɪd/

To finish; to make done; to reach the end.

"He completed the assignment on time."