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Mortgage

Impound Account

Definition

Another term for an escrow account holding funds for property taxes and insurance.

Example

The servicer's annual impound analysis revealed a $1,180 shortage after the tax reassessment.

Frequently asked questions

What does Impound Account mean in real estate?

Another term for an escrow account holding funds for property taxes and insurance.

How is Impound Account used in practice?

The servicer's annual impound analysis revealed a $1,180 shortage after the tax reassessment.

This definition is provided for educational purposes. Legal and tax terminology can carry jurisdiction-specific meaning — confirm with a licensed professional before relying on it in a transaction.