escrow payment
Third-party holding
An escrow payment is money held by a neutral third party until certain conditions are met.
In real estate, escrow payments typically cover property taxes and insurance, collected monthly alongside mortgage payments and disbursed when due: Our escrow payment went up because property taxes increased.
The arrangement protects both buyer and seller by ensuring funds are available and properly allocated.
- depositPlace for safekeeping
- trustConfidence in another
- holdbackThing that hinders
- closingFinal stage of something
- closing dayLast operating day
deed · title · clear title · title company · mortgage · settlement · funds · agent · buyer · seller · purchase agreement · transaction · release · hold harmless · disbursement · safeguard · neutral · third-party
escrow paymentdirect payment
Funds transferred without intermediary
direct transfer · cash payment · peer-to-peer payment · cash on delivery · direct deposit
escrow paymentfinal payment
Last sum owed
upfront payment · prepayment · advance payment · cash on delivery
escrow, escrows, escrowed, escrowing, payment, payments, pay, pays, paid