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Escrow |
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Escrow
Escrow. When someone else holds assets of yours until the terms of a contract or an agreement are fulfilled, your assets are said to be held in escrow. The assets could be money, securities, real estate, or a deed. The person or organization that holds the assets is the escrow agent, and the account in which they are held is an escrow account. For example, if you make a down payment on a home, the money is held in escrow until the sale is completed or the deal falls through. Amounts you prepay to cover property taxes and insurance premiums as part of your regular mortgage payment are also held in escrow until those bills come due and are paid. In that case, you may earn interest on the amount in the escrow account. How to thank TFD for its existence? Tell a friend about us, add a link to this page, add the site to iGoogle, or visit webmaster's page for free fun content. |
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| Escrow Settlement: Online banking provider Digital Insight Corp. LANCASTER -- The California Escrow Association has announced the revitalization of the Escrow Associates of the Antelope Valley, a nonprofit organization serving escrow professionals. Putting proceeds from a sales transaction into escrow does not guarantee that a cash-basis taxpayer can use installment reporting. |
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