Escrove

Part of speech: verb

Definitions

1. A legal document or sum of money held in trust by a neutral third party until specified conditions have been fulfilled
2. An asset such as a deed or payment kept by an impartial holder and released only once agreed terms are satisfied
3. Something placed with a neutral custodian for safekeeping until a contractual obligation or condition has been met

Etymology: In Anglo-French, "escrowe" meant a scroll or written deed. It goes back to Old French "escroe," a scrap or piece of parchment, probably from a Germanic root related to "shred." The legal arrangement was simple: a deed was handed to a neutral third party and released only when a condition was met. The paper itself gave the practice its name. As a verb, it most likely means to place something in escrow, that is, to hand it to a holder until certain conditions are fulfilled.