Escrow (noun)

1. An arrangement in which a neutral third party holds and regulates payment of the funds required for two parties involved in a given transaction.
2. A financial arrangement in which a third party holds and regulates payment of the funds required for two parties involved in a given transaction until all of the terms have been met and the transaction can be completed.

Origin:

From the old french word escroe which means "scrap of paper, document".

Examples:

1. The funds were held in escrow until the closing of the sale.
2. The escrow company made sure that all of the terms of the contract were met before releasing the funds.
3. The escrow agent made sure that the buyer had the necessary funds before the transaction could be completed.
4. The escrow period allows the buyer to inspect the property before the transaction is completed.
5. The escrow account was set up to ensure that the seller received the money only after the buyer had received the property.