Settlement Statement
/ˈsɛtlmənt ˈsteɪtmənt/
Definitions
- (n.) A detailed document outlining the final terms of a contract or agreement, especially in real estate transactions, itemizing all costs, payments, and disbursements due at closing.
The buyer and seller reviewed the settlement statement before signing the closing documents.
- (n.) A financial report provided at the conclusion of a legal dispute, showing how settlement funds are distributed among parties.
The attorney sent the client a settlement statement summarizing the disbursement of the award.
Forms
- settlement statement
- settlement statements
Related terms
See also
Commentary
Usage is especially common in real estate and legal dispute resolution contexts; clarity in itemizing charges and payments aids transparency and prevents post-closing disputes.
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.