Escrow Funds (Noun)
Meaning
Funds held in escrow.
Classification
Nouns denoting possession and transfer of possession.
Examples
- The company held the buyer's payment in escrow funds until the product was delivered.
- The seller required that a portion of the purchase price be held in escrow funds pending a successful inspection.
- After the property inspection, the escrow funds were released to the seller.
- The payment was made to the attorney's office to be held in escrow funds until the transaction was finalized.
- In real estate transactions, it is common for a portion of the purchase price to be held in escrow funds.