in escrow


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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 ?
A software escrow, for instance, might require a software developer to place in escrow the uncompiled code of a program that has been specifically tailored for use by a licensing business.
For example, one national retailer learned that the license keys placed in escrow to allow it to expand the number of cash registers used in its stores were actually incapable of activating additional machines; in another case, it was discovered during verification that there were no build instructions present, and it cost an additional $80,000 to have these instructions developed.
* AFTER COMPANIES RECEIVE THEIR REFUNDS, they should place the funds in escrow to give the IRS time to audit the amended returns.
79-91,(8) the IRS later restated its position on substantial restrictions contained in escrow agreements.
* Select or insist on a buyer who uses a reputable, independent financial institution to hold the money in escrow until the change of ownership closes.
The remaining identified property is listed for sale at $120,000, T decides that he will not acquire that property, and wants to receive the $13,000 remaining in escrow. Can the remaining escrowed funds be released to T before July 12, 1998, or must they remain in escrow because the third identified property is property T is entitled to receive under the exchange agreement?
FOR YEARS, BORROWERS AND LENDERS HAVE WRANGLED OVER HOW MUCH MONEY may be held in escrow accounts for payment of taxes and insurance.
The Dubai Land Department (DLD) has issued a decision to seize the properties and land plots registered to Schon Properties and its funds deposited in Escrow account until the Dubai Public Prosecution and Dubai Courts complete legal procedures for the recovery of all investor rights and securing the rights of other parties.
Net proceeds will be held in escrow until the satisfaction of various customary conditions precedent, including assumption of the notes from the Escrow Issuer and the guarantee of the notes by RCPC's wholly owned domestic subsidiaries as well as consummation of the acquisition of Elizabeth Arden and its domestic subsidiaries.
Placing money in escrow usually works to keep both parties to a transaction safe and ensure that the terms of the sale are fulfilled before money is released to the seller.
Dubai Islamic Bank (DIB) (DISB.BE) has been appointed as an official escrow account agent by the government of Ras Al Khaimah.As per government rules, property developers in Ras Al Khaimah have to place project receivables in escrow until predetermined milestones are achieved.
A large oil company licensed in excess of $100 million worth of software each year, and approximately 15 software packages were in escrow at any time.
Section 10 sets out statutory limits on the amounts that lenders legally may require borrowers to deposit in escrow accounts.