System in which things of value (e.g., money
or documents) are held on behalf of parties to a
transaction by a disinterested third party (escrow
agent) until specific conditions have been
satisfied. Also called: In Escrow.

Merriam-Webster Online Dictionary
escrow (noun)
a deed, a bond, money, or a piece of property held in trust by a third party to be turned over to the grantee only upon fulfillment of a condition
a fund or deposit designed to serve as an escrow
escrow (verb)
transitive verb
to place in escrow
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