Closing Date
/ˈkloʊzɪŋ deɪt/
Definitions
- (n.) The agreed-upon date on which a transaction, especially in real estate or corporate deals, is finalized and ownership or interests are formally transferred.
The closing date for the property sale is set for June 15th.
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Commentary
The closing date is crucial in contracts as it triggers obligations like payment and transfer of title; clarity in drafting avoids disputes over timing.
This glossary is for general informational and educational purposes only. Definitions are jurisdiction-agnostic but reflect terminology and concepts primarily drawn from English and American legal traditions. Nothing herein constitutes legal advice or creates a lawyer-client relationship. Users should consult qualified counsel for advice on specific matters or jurisdictions.