escrow Law [ ɪ'skrəʊ , ɛ- ]
■ noun 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.
↘the state of being kept in this way.
■ verb chiefly N. Amer. place in escrow.
Origin
C16: from OFr. escroe 'scrap, scroll', from med. L. scroda , of Gmc origin; related to shred .