in escrow


Also found in: Dictionary, Thesaurus, Legal, Financial, Encyclopedia.

in escrow

Held as an escrow, that is, in the custody of a third party until some condition or conditions (of an agreement, bequest, etc.) have been fulfilled. The sum of money my late grandfather bequeathed to me will be in escrow until I turn 18.

in escrow

In trust with a third party for delivery after certain conditions are fulfilled. For example, Our down payment on the house is in escrow until the current owner makes the promised repairs . This legal term dates from the late 1800s.

in escrow

In trust as an escrow.
References in periodicals archive ?
Thus, while not setting forth any rule to be followed as a precedent, the Service held that when a contributor (B)places funds in escrow pending the outcome of litigation that could result in the funds either being returned to the contributor or distributed to the payee (A), the income earned until the ownership of the funds is legally resolved is taxed to the contributor (B).
The average asking price of those in escrow increased 11 percent to $778,706, or $313 per square foot.
The average asking price of those in escrow declined to $699,050, or $298 per average square foot.
Simple economics would indicate that a reduction in fees will result in cutbacks in escrow professionals, many of which are women and the sole income earners for their families.
In addition to its professional designation program, CEA works with community colleges throughout the state to develop CEA-approved curricula leading to a certificate in Escrow.
Homes in escrow dropped to 61, which mirrored a statewide decline in selling activity.