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Escrow:
A neutral third party holds the documents and money involved in a real estate transaction and ensures that all conditions of a sale are met.. Escrow also refers to a special account that a lender establishes to hold monthly installments from the borrower to cover property taxes and insurance.
As defined by Inman
The definition for Escrow and
this glossary as a whole are presented to you as a courtesy of ForeclosuresRI.
For other terms, explinations, definitions and descriptions, please
visit our Glossary page.
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