Escrow agent

{
  "id": "MLC-T-LAW-001911",
  "term": "Escrow agent",
  "field": "Law",
  "definition": "A neutral third party, such as a bank, title company, or attorney, responsible for holding assets or documents in escrow until all contractual conditions are satisfied. The agent acts according to the instructions of both parties to a transaction, releasing the assets only when all prerequisites are met. Their duties are governed by the escrow agreement and relevant state laws.",
  "url": "https://mlchart.com/terminology/law/escrow-agent/"
}