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escrow definition - finance
An account that holds money or securities until some agreed upon event or condition is met. Escrows typically are used when purchasing a home. The down payment, or good faith deposit, goes into an escrow account and is held until the funds are disbursed to the seller at closing.

Webster's New World Finance and Investment Dictionary Copyright © 2003 by Wiley Publishing, Inc., Indianapolis, Indiana.
Used by arrangement with John Wiley & Sons, Inc.

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