Which method is used to hold funds or documents during a transfer of ownership?

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Escrow is the mechanism used to hold funds or documents during a transfer of ownership. A neutral third party—the escrow holder—safeguards money and necessary paperwork until all conditions of the transaction are met and instructions for disbursement are fulfilled. This setup protects both parties by preventing premature access to funds or documents and providing a clear, auditable path to closing. The other options describe the act or instrument of conveying ownership itself: conveyance is the transfer of title, a grant deed is a deed that conveys title with certain warranties, and a quitclaim deed transfers whatever interest the grantor has without guarantees. None of these serve the function of securely holding assets during the transfer.