PayEscrow is a secure online payment processing service that comes with PHP laravel. It is a legal arrangement in which a third party temporarily holds large sums money or property until a particular condition has been met (e.g., the fulfillment of a purchase agreement). It is mostly used regarding the purchase of shares of a company. PayEscrow is an account separate from the mortgage account where deposit of funds occurs for payment of certain conditions that apply to the mortgage. The PayEscrow admin has the duty to properly account for the escrow funds and ensure that usage of funds is explicitly for the purpose intended.
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