Escrow

An account that is set up such that you can’t touch the money in it. When two parties are conducting a transaction, an escrow account is usually held by an impartial third party. If you buy a house, for example, you’ll be asked to deposit a certain amount of money into an escrow account until you and the seller have satisfied all of the terms of the sale.

« Back to Glossary Index
2017-12-12T20:25:31+00:00

Leave A Comment