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Escrow is the term used when funds or assets are held by a
neutral, jointly-appointed third party on behalf of two contracting
parties, subject to a transaction being completed between them
(typically a contract of sale), until certain predetermined
obligations or conditions under the agreement have been met.
More simply put, an escrow account is a bank account with
defined conditions for the release of funds. Etymologically, the
word derives from the French word escroue, which refers to a scrap
or roll of parchment that served as a written instrument that could