What is the meaning of the word escrow?

Posted on Tuesday, March 9th, 2010 at 3:34 am    

Real estate agents and lawyers often use language that only they can understand. Part of this language is the shorthand word escrow.

Escrow is a descriptive term for an account that is created to retain or reserve certain funds and expenses. These funds and expenses often include property taxes, home insurance, and closing costs.

If you have any questions about escrow accounts, contact the Iowa real estate transactions lawyers of LaMarca Law Group, P.C., at (877) 327-2600.


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