STAKEHOLDER
A
stakeholder is an agent who holds money as an independent party. For
example, the deposit paid on a house. The money can only be released
with the permission of the purchaser. Upon or before exchange,
the vendor must promptly forward the deposit to the vendor's agent
for banking in that agent's trust account as stakeholder . If there
is a dispute the agent should interplead.
The stakeholder is named in the standard contract.
See
standard
contract
deposit