Escrowed: meaning, definitions and examples
💰
escrowed
[ ɛsˈkroʊd ]
financial transaction
Escrowed refers to the process of placing funds or assets into a third-party account, which acts as a neutral holder until certain conditions are met. This arrangement provides security for both parties involved in a transaction, as neither party can access the funds or assets without mutual agreement.
Synonyms
Examples of usage
- The funds were escrowed until the house passed inspection.
- They decided to have their payment escrowed for the duration of the project.
- The shares were escrowed until the merger was finalized.
Translations
Translations of the word "escrowed" in other languages:
🇵🇹 escrowado
🇮🇳 एस्क्रो किया हुआ
🇩🇪 treuhänderisch
🇮🇩 dititipkan
🇺🇦 ескроу
🇵🇱 depozytowy
🇯🇵 エスクローされた
🇫🇷 escrowé
🇪🇸 escrowado
🇹🇷 emanete verilmiş
🇰🇷 에스크로우된
🇸🇦 محتجز في حساب ضمان
🇨🇿 svěřený
🇸🇰 escrowovaný
🇨🇳 托管的
🇸🇮 v varstvu
🇮🇸 eskrowað
🇰🇿 ескроу
🇬🇪 ესკრო
🇦🇿 nəsihətə verilmiş
🇲🇽 escrowado
Etymology
The term 'escrow' originates from the Old French word 'escroue', which refers to a scroll or a deed. This goes back to the concept of a piece of paper that is held by a third party for safekeeping until certain obligations are fulfilled. The use of escrow in financial transactions began to take shape in the Middle Ages when traders needed a secure way to finalize sales, particularly in property transactions. The practice became more formalized with the development of modern real estate transactions and legal contracts, allowing buyers and sellers to safeguard their interests. Today, escrow services are widely used in real estate, online sales, and various contractual agreements to protect both parties and ensure compliance with the terms of the deal.