Maryland Code, REAL PROPERTY 10-304
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Terms Used In Maryland Code, REAL PROPERTY 10-304
- Escrow: Money given to a third party to be held for payment until certain conditions are met.
The provisions of this subtitle do not apply to a sale by or through a licensed real estate broker in connection with which all sums of money in the nature of deposits, escrow money, or binder money are paid to a broker to be held in the escrow account of the broker.