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Closing Statement

   Also found in: Wikipedia 0.04 sec.
Closing Statement
A document commonly used in real estate transactions, detailing the fees, commissions, insurance, etc. that must be transacted for a successful transfer of ownership to take place. This document is prepared by a closing agent and is also known as a "settlement sheet".

Notes:
This legal document sets out the exact amount of money needed to close a real estate transaction and effect the transfer of title and ownership from the seller to the buyer. It includes all the costs involved in the sale, such as mortgage insurance and property tax deposits.


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As the ACLU's Chris Hansen put it in the trial's closing statement, "Some people find [it] a scary number.
In the CLOSING STATEMENT section, write what you hope your audience now understands.
But Hanna argued in his two-hour closing statement that in the absence of motive, eye witnesses, tape recordings, fingerprints or a criminal history, federal prosecutors leaned on the testimony of ``three scared and intimidated witnesses'' who cut a deal with the government.
 
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