Find the right information and know it is the most reliable available when you search for recently sold homes like 6123 N County Road 45, Medford, MN 55049 on realtor.comÂ®. Top Real Estate Markets in Minnesota
For escrows of computer source code, see source code escrow. An escrow is: a contractual arrangement in which a third party receives and disburses money or documents for the primary transacting parties, with the disbursement dependent on conditions agreed to by the transacting parties, or.
An escrow account is a fund held, usually by a financial institution, to take in funds on behalf of a client and disburse them on the client's behalf. The most common use for an escrow account is by a mortgage company, which often holds funds from mortgagors to pay the property taxes and homeowner's insurance premiums.Escrow funds do not belong to the institution but are held in trust for the client.enerally accepted accounting principles (GAAP) for escrow accounts require special reporting, both by the Financial Accounting Standards Board and regulatory agencies. The funds held in the account must be detailed by contributor, and these funds cannot be mixed in with the operating funds of the company.