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Meaning of escrow

es•crow

Pronunciation: (n.es'krō, i-skrō'v.i-skrō', es'krō), [key]
— Law. Law.
—n.
  1. a contract, deed, bond, or other written agreement deposited with a third person, by whom it is to be delivered to the grantee or promisee on the fulfillment of some condition.
  2. in the keeping of a third person for delivery to a given party upon the fulfillment of some condition.
—v.t.
  1. to place in escrow: The home seller agrees to escrow the sum of $1000 with his attorney.
Random House Unabridged Dictionary, Copyright © 1997, by Random House, Inc., on Infoplease.
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