A special bank account where money is held to be paid to another upon the happening of a certain event. For example, a tenant may in some cases place rent in an escrow account until a landlord makes a repair to a serious housing code violation.
A special bank account where money is held to be paid to another upon the happening of a certain event. For example, a tenant may in some cases place rent in an escrow account until a landlord makes a repair to a serious housing code violation.