escrow agent

Escrow Agent

A third party who agrees to hold funds or assets in escrow. The escrow agent provides this service to two parties in a transaction until certain conditions are filled. The escrow agent holds the assets until the transaction is finalized and then gives them to the appropriate party. See also: Bulk sales escrow.

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Escrow agent. An escrow agent is the person or group that holds certain of your assets in an escrow account while you negotiate the final terms of a contract.

For example, if you are buying a home, the escrow agent would hold the down payment you make when your offer is accepted until the purchase is finalized.

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escrow agent

A person or firm who agrees to hold funds for others and disburse them according to lawful instructions.