escrow

(redirected from Escrow account)
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Related to Escrow account: Escrow Agreement

escrow

(security)
An arrangement where something (generally money or documents) is held in trust ("in escrow") by a trusted third party until certain agreed conditions are met. In computing the term is used for key escrow and also for source code escrow.

escrow

A legal device used in a construction contract whereby something of value is placed with a third party, acting as a trustee, to guarantee that conditions of the contract will be met.
References in periodicals archive ?
a Berkshire Hathaway company, is explaining mortgage escrow accounts for its consumers to help clarify escrow's role in the home buying process.
While none of the numerous lawyers representing banks, credit card companies and others who spoke during a two-hour emergency hearing yesterday morning in Judge Hoffman's Worcester courtroom could say for sure how much money the charter air service owes to customers, several said it was clear that the amount far exceeds Direct Air's assets and the money left in the escrow account, which together total roughly $2 million.
This makes it crucial for servicers to know the states with escrow account limits more restrictive than the two-month RESPA cushion.
Looking at the wide array of possibilities for escrow accounts can be like reading the menu at a deli: There's something for everyone.
In a "low to high" advance refunding, the "minor portion," which could equal up to 15 percent of the original refunded issue, could be invested in the escrow account at an unrestricted yield.
The buyer then deposited cash equal to the entire amount of the notes in a bank escrow account for collateral.
1 million to Frontier Communications (NASDAQ: FTR) from two separate escrow accounts.
Escrow Account: The Real Estate Development Law requires that the developer open an escrow account for each project (the Escrow Account).
A company representative said : "In our petition to the Delhi High Court, we have maintained that the entire proceeds of the sale of Chennai factory to Microsoft will be deposited into the escrow account with a minimum guarantee of Rs 2,250 crore.
The bank holding the escrow account is opposing JetPay's move and the U.
Developers may only register with Rakia Rera when the project's concept design has been approved, which will allow them to open an escrow account and start selling properties, explained Yahia Kambris, general manager of Rakia Rera.
Global Banking News-2 February 2009-Dubai Islamic Bank named escrow account agent by Ras Al Khaimah(C)2009 ENPublishing - http://www.