If you are searching for the meaning of Escrow account in real estate and also a definition of an Escrow account, then this blog post is helpful for you
Definition
(1) A third-party account that holds money safely while a sale is in progress.
(2) An account used to save monies required for the payment of an eventual debt. Often used by
lenders to save for property taxes, hazard insurance, homeowner’s dues, etc.
Escrow accounts are typically non-interest bearing for the contributors but may pay interest to the entity holding the account (lenders, title companies, lawyers, etc.).
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