Real Dictionary

escrow
Escrow is money or property which is given to someone, but which is kept by another person until the first person has done a particular thing or met particular requirements.

escrow in American English
a written agreement or something of value put in the care of a third party and not delivered until certain conditions are fulfilled
noun: a contract, deed, bond, or other written agreement deposited with a third person, by whom it is to be delivered to the grantee or promisee on the fulfillment of some condition

escrow in British English
to place (money, a document, etc) in escrow
noun: money, goods, or a written document, such as a contract bond, delivered to a third party and held by him or her pending fulfilment of some condition

escrow in Finance
noun: Escrow is money held by an independent third party to facilitate a financial transaction between two other parties.