escrow
UK /ˈɛ.skɹəʊ̯/ · US /ˈɛ.skɹoʊ̯/ noun, verb
Forms escrows escrowing escrowed
- noun (law) A contractual arrangement whereby money or assets are held in trust by an independent agent by the agreement of the parties, which can only be released to the relevant party once certain contractual conditions have been fulfilled.
- noun (informal) The money or assets so held.
- verb To place in escrow.
Etymology
Learned borrowing from Law French escrowe, from Old French escroe (“register, note; bit of parchment; piece”), from Frankish *skrōda (“piece”), from Proto-Germanic *skraudō, derivative of Proto-Germanic *skraudaną (“to shred”). Doublet of scrow and shred and partially scroll.
Webster’s 1913
- noun A deed, bond, or other written engagement, delivered to a third person, to be held by him till some act is done or some condition is performed, and then to be by him delivered to the grantee.
Etymology [OF. escroe, escroue, a roll of writings, bond. See Scroll.]
Sources: Wiktionary · Webster’s 1913 — from the Wiktionary entry “escrow”, CC BY-SA 4.0. Details