escrow

escrow

Instrument, such as a deed, money, or property, that constitutes evidence of obligations between two or more parties and is held by a third party. It is delivered by the third party only upon fulfillment of some condition. In commercial usage, this condition is most often the performance of an act (e.g., payment) by the party who is to receive the instrument. Escrow is also used in family transactions (e.g., when a death in the family results in an instrument being delivered to another family member).

---

(security)

escrow - 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.