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escrow
"The act whereby a deed or other writing is delivered to a ""neutral"" third person, who then delivers such writing to the other person referred to by such writing. In a typical real estate sales transaction. the earnest money is deposited with the broker, who then delivers it to the vendor, in exchange for the deed of conveyance which will be given to the vendee at the closing."
Source : lawyerintl.com 2005
Language : English