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.
Real estate escrows performed by independent escrow companies licensed by the California Department of Corporations do not have the limitations imposed on Broker Controlled Escrows, and provide broad indemnification protections.
Harold and Kathy Wiener, one-time community leaders in Santa Clarita and owners of the Valencia-based Country Oaks Escrow Co.
Vaughn has achieved the professional designations of Certified Escrow Officer and Certified Senior Escrow Officer through the California Escrow Association.
Escrow professionals contribute to the health of our economy, and I commend the California Escrow Association for your commitment to excellence in the finance and real estate industry.
These five enforcement actions bring the total to 38 fraudulent escrow sites ordered to be shut down by the Department since May 2004.
Fraudulent Escrow Sites Pose as Sellers and Buyers in Elaborate
com states that the company is located in Montgomery, Alabama and that it provides escrow services through a subsidiary called Hardfort Escrow, Inc.
There are about 650 independent escrow companies in California licensed by the Department of Corporations.