escrow
A transaction where a third party is the intermediate agent between the sellar and buyer, or between the borrower and lender. This third party handles legal documents and funds disbursement.
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The following dictionary definition list is provided for clarification only. Note that many definitions are not directly applicable to mortgages, loans or other financial terminology in this glossary. Used with permission: WordNet 2.1 Copyright 2005 by Princeton University. All rights reserved.
escrow
Noun: escrow (a written agreement (or property or money) delivered to a third party or put in trust by one party to a contract to be returned after fulfillment of some condition)
- escrow -
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