Historically it refers to a scroll that is a deed delivered to a third person to hold until a future condition is satisfied.
In real estate transactions, it refers to the period during which a third party holds the proceeds from the sale of a home until both the buyer and seller sign their documents.
What be it?
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3 comments:
Escrow
It seems like escrow.
It does smell like Escrow, but to refer to a 'period' as escrow is something I hadn't encountered before.
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