escrow

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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 ?
The investigators said Universal officials were dipping into the escrow accounts of clients and using the money to pay the company's own bills, including payroll and office supplies.
A sale of relinquished property and purchase of replacement property does not qualify as an exchange, even if the sales proceeds are held outside of the seller's control in a trust or escrow, unless another person acts as a facilitator and exchanges property with the seller.
Margulies said the problem "all comes from the agency's inability to process cases timely, because if they can reach the tenant they won't require the escrow.
Harold and Kathy Wiener, one-time community leaders in Santa Clarita and owners of the Valencia-based Country Oaks Escrow Co.