Real Estate Closing
/ˈriːəl ɪˈsteɪt ˈkloʊzɪŋ/
Definitions
- (n.) The final step in a real estate transaction where the property title is transferred from seller to buyer and all contractual conditions are fulfilled.
The buyer and seller met at the real estate closing to sign all the required documents.
- (n.) The legal process involving the settlement of all financial and legal obligations prior to the transfer of property ownership.
Real estate closing ensures all liens and debts are cleared before ownership changes hands.
Forms
- real estate closing
- real estate closings
Related terms
See also
Commentary
The term embodies both the event and the legal process; usage often varies by jurisdiction but always implies completion of conditions precedent to ownership transfer.
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.