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Definition of “escrow” - English Dictionary

"escrow" in British English

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escrownoun [U]

uk   /ˈes.krəʊ/  us   /ˈes.kroʊ/ specialized
an ​agreement between two ​people or ​organizations in which ​money or ​property is ​kept by a third ​person or ​organization until a ​particularcondition is ​met : The ​money was ​placed in escrow.
(Definition of escrow from the Cambridge Advanced Learners Dictionary & Thesaurus © Cambridge University Press)

"escrow" in Business English

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escrownoun [U]

uk   /ˈeskrəʊ/  us   /-kroʊ/
LAW, PROPERTY an ​agreement between two ​people or ​organizations in which ​money or ​property is ​kept by a third ​person or ​organization until a particular ​condition is ​met: The ​money was ​placed in escrow. Current ​rulesrequirehomeowners to ​collect the ​grants in ​installments from an escrow ​account.
(Definition of escrow from the Cambridge Business English Dictionary © Cambridge University Press)
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