In an escrow arrangement, the person who puts money into the escrow account usually owns it, and this person is usually referred to as the 'depositor' or the 'principal'.
The money is put into the escrow account to provide security for a specific transaction or agreement between multiple parties. The escrow account is managed by a neutral third party called the 'escrow agent' - that is us.
We keep the funds in the account until certain conditions of the agreement are met. Once these conditions are fulfilled, the funds are released based on the agreement's terms.
While the money is in the escrow account, it doesn't belong to the escrow agent but is held on behalf of the principal.
