escrow agent

An escrow agent is a neutral third party that holds funds or property during a transaction until all conditions of an agreement are met. For example, in a real estate deal, the buyer deposits money with the escrow agent instead of paying the seller directly. The agent ensures that the seller complies with the sale conditions (like providing a clear title) before releasing the funds to them. This process helps protect both the buyer and the seller by ensuring that neither party gets what they want until all terms are fulfilled.