escrow
IPA: ɛskrˈoʊ
noun
- (law) 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.
- (informal) The money or assets so held.
verb
- To place in escrow.
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Examples of "escrow" in Sentences
- We are in escrow on a house in california the was listed a year ago for twice our offer in February.
- While the sale was still in escrow, she had it delivered to Aldinger's empty duplex for storage, according to court records.
- Any unused amounts in escrow on June 30, 2010 are required to be used to repay the UST Loans and GMCL Canadian Loan with EDC.
- It started with George Jr. giving three trillion dollars in escrow that Bill left back to the masses then declared war on Iraq.
- The $16.4 billion in escrow will be distributed to us at our request upon certain conditions as outlined in the UST Credit Agreement.
- The industry last year won favorable Florida legislation capping the amount that tobacco companies must place in escrow in order to appeal judgments in tobacco cases.
- The state Superior Court judge also ruled Thursday the October rent for Feisal Abdul Rauf's Union City building must be held in escrow until Oct. 19, when the case returns to court.
- The supervising attorneys would be paid, based on an hourly rate, from federal funding and/or a combination of voluntarily paid funds from the nation's foreclosers, with funds held in escrow by a trustee appointed by the DOJ.
- So it would seem to me that a reasonable approach would be to set up a special purpose Corp or LLC (non-profit if possible, for tax benefits) to receive donations in escrow, pending the given contingency (HCR), and manage those donations, in a more or less ordinary way, for the benefit of the donors unless and until the contingency comes to pass.
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