escrow

Definitions

Accounting

  • noun an agreement between two parties that something should be held by a third party until conditions are fulfilled

Construction

  • Property (such as money, a deed, stock, or a writing) that is delivered by a person (called a grantor) to a third party to be held until certain conditions are fulfilled. When the conditions are satisfied, the third party releases the property to another person (called a grantee).

Law

  • noun a deed which the parties to it deliver to an independent person who hands it over only when specific conditions have been fulfilled
http://www.dictionarycentral.com/definition/escrow.html