Escrow

Definitions

1. A contractual arrangement whereby money or assets are held in trust by an independent agent by the agreement of the parties, which can only be released to the relevant party once certain contractual conditions have been fulfilled.
   countable, uncountable
2. The money or assets so held.
   countable, informal, uncountable

Equivalents

Examples

“GCN staffers wrote and called our landlords, complaining about the building's disrepair, for months before informing them, in September, 1985, that we would pay⟳ our rent⟳ into an escrow account until repairs were made.”

“The court will decide⟳ which party is the rightful owner of the items in escrow.”

““Well, Dominic,” Della suddenly chimed in. “Seeing as this place⟳ of yours is still under escrow, seems to me it's not really yours yet, is it?””

CEFR level