closing Law Definition
n
- The final step in the purchase of real property or of an interest in real property when a deed or another instrument of title is conveyed to the buyer, the purchase price or a portion thereof is paid, and collateral matters, such as the exchange or transfer of any assignments, insurance policies, leases, and mortgages, are finalized.
- The termination of the administration of a decedents estate after the estates assets are distributed, taxes and other liabilities are paid, and all the necessary documents have been filed with the court.
Browse dictionary entries near closing
- ‹ closeted
- ‹ closet drama
- ‹ closet
- ‹ closer
- ‹ closeout
- ‹ closemouthed
- ‹ closely held corporation
- ‹ closely
- ‹ closehauled
- ‹ closegrained
- closing argument ›
- closing range ›
- closing statement ›
- clostridium ›
- closure ›
- clot ›
- cloth ›
- cloth yard ›
- clothbound ›
- clothe ›

