Escrow

Escrow is a financial arrangement where a third party holds and regulates payment of the funds required for two parties involved in a transaction. The funds are held by the escrow service until it receives the appropriate written or oral instructions or until obligations have been fulfilled. Escrow helps to make transactions more secure by keeping the payment in a secure escrow account. Once both the buyer and the seller fulfill their obligations in the transaction, the funds are released from the escrow account and transferred to the appropriate party. This ensures that all parties involved in a transaction are protected and the transaction process is fair for everyone involved.