escrow
noun
[ ˈɛskrəʊ ]
• a bond, deed, or other document kept in the custody of a third party and taking effect only when a specified condition has been fulfilled.
escrow
verb
• place in custody or trust until a specified condition has been fulfilled.
• "those funds are escrowed for the purpose of improving municipal services"
Origin:
late 16th century: from Old French escroe ‘scrap, scroll’, from medieval Latin scroda, of Germanic origin; related to shred.
