Jan 14 , 2016

Tampa School of Real Estate

Escrow Account

Definition:   An account for the deposit of earnest money a disinterested third party (ex. a broker) holds in trust for others; trust funds.

Pronunciation: \ˈes-ˌkrō, es-ˈ\ \ə-ˈkau̇nt\

Used in a Sentence:  Our downpayment was held in an escrow account until the closing.

E