<FONT size=3 face="arial, helvetica, sans-serif">Wikipedia says:<BR><BR></FONT><P><FONT size=3 face="arial, helvetica, sans-serif">An <B>escrow</B> is:</FONT></P><UL><LI><FONT size=3 face="arial, helvetica, sans-serif">an arrangement made under contractual provisions between transacting parties, whereby an independent trusted third party receives and disburses money and/or documents for the transacting parties, with the timing of such disbursement by the third party dependent on the fulfillment of contractually-agreed conditions by the transacting parties, or</FONT><LI><FONT size=3 face="arial, helvetica, sans-serif">an account established by a </FONT><A title=Broker href="
http://en.wikipedia.org/wiki/Broker" target=_blank target=_blank><FONT color=#0645ad size=3 face="arial, helvetica, sans-serif">broker</FONT></A><FONT size=3 face="arial, helvetica, sans-serif">, under the provisions of license law, for the purpose of holding funds on behalf of the broker's </FONT><A title="Principal (commercial law)" href="
http://en.wikipedia.org/wiki/Principal_(commercial_law)" target=_blank target=_blank><FONT color=#0645ad size=3 face="arial, helvetica, sans-serif">principal</FONT></A><FONT size=3 face="arial, helvetica, sans-serif"> or some other person until the consummation or termination of a transaction;<SUP id=cite_ref-0 class=reference><A href="
http://en.wikipedia.org/wiki/Escrow#cite_note-0" target=_blank target=_blank><FONT color=#0645ad><SPAN>[</SPAN>1<SPAN>]</SPAN></FONT></A></SUP> or,</FONT><LI><FONT size=3 face="arial, helvetica, sans-serif">a trust account held in the borrower's name to pay obligations such as property taxes and insurance premiums.</FONT></LI></UL><P><FONT face="arial, helvetica, sans-serif"><FONT size=3>The word derives from the Old French word escroue, meaning a scrap of paper or a roll of parchment; this indicated the deed that a third party held until a transaction was completed.<SUP id=cite_ref-1 class=reference><A href="
http://en.wikipedia.org/wiki/Escrow#cite_note-1" target=_blank target=_blank><SPAN><FONT color=#0645ad>[</FONT></SPAN></A></SUP></FONT></FONT></P>