What is "In Escrow"?

What Is “In Escrow?”

Shouldn’t it be “In Escrow”? instead since the question refers to the meaning of the phrase " In Escrow".

Thanks!

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Escrow is an agreement between two people or organizations in which money or property is kept by a third person until a particular condition is met:

- The money was placed in escrow.

Used in property law. Boy I learn each day.

Source: Cam.Online.

This should help you. A dictionary would too, Koohyoongliat. :smiley:

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Moreover, an escrow account is an account in which money is kept and from which no withdrawals can be made, since it is held by a third person. For instance, when a relative of yours passes, their money and property are placed in escrow, particularly when there are two or more beneficiaries. In that case the bank is the third person, so to speak. Even when you know almost certain you’re the only beneficiary you have to have the bank place the money and property of your departed in escrow. I studied law for some time and this one did not come from the Cam. Online.

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Here is more on how an escrow process works: A .....-kind exchange requires that you close in escrow through a qualified intermediary such as a title company; the title company holds the proceeds from the first closing in its escrow account until you're ready to close on the replacement property. | english.best

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