Settlement agent

Settlement Agent

A person responsible for ensuring that all laws and regulations are followed in transferring real estate from one owner to the next. For example, when one sells his/her house, the settlement agent performs the title search and conducts other activities necessary for the real estate to close smoothly. Generally speaking, a settlement agent does not represent either party in a real estate transaction. Some U.S. states require a settlement agent to work on real estate transactions.

Settlement agent.

In some states, a settlement agent, or closing agent, handles the real estate transaction when you buy or sell a home.

He or she oversees title searches, legal documents, fee payments, and other details of transferring property, acting on your behalf to ensure that the conditions of the contract have been met and appropriate real estate taxes have been paid.

A settlement agent also represents you at the closing, so you don't need to be present.

References in periodicals archive ?
Closing Insight is a Web-based solution that automates the loan closing process, enabling the integration of lender and settlement agent data to streamline the reconciliation of fees for final loan closing disclosures.
BNY Mellon (NYSE: BK), a company involved in investment management and investment services, has said that it has served as the tabulation and settlement agent on the USD15bn sovereign external commercial debt exchange by the Government of Ukraine.
Communication and collaboration between lender and settlement agent will become more important when obtaining fees and charges prior to closing, and again when following up post-closing.
2 (Acceptance of the Offer and Tender) of the Offer Memorandum, a custodian, bank or broker may set an earlier deadline for Depositary Receipt Holders to communicate acceptances of the Offer in order to permit the custodian, bank or broker to communicate such acceptances to the Settlement Agent in a timely manner.
Description of specific services will be provided in each Task Order and will include work such as title search, title report, appraisal of property value, negotiation of fair market value, communication with property owners, preparation and recordation of documents, plats and surveys, recommendation of acquisition strategies, acting as the settlement agent, and expediting and tracking correspondence with other municipalities, clerks, and courts.
Morgan Securities plc is acting as Global Coordinator, Joint Bookrunner and settlement agent on the Bond offering.
An attorney shall deposit and maintain all funds received in connection with transactions in which the attorney is serving as a title or real estate settlement agent into a separate trust account that is maintained exclusively for funds received in connection with such transactions and permit the account to be audited by its title insurers, unless maintaining funds in the separate account for a particular client would violate applicable rules of The Florida Bar.
He was recently appointed as outside counsel to a title insurance company to investigate multiple claims of alleged fraud and defalcation against a settlement agent which had appeared for numerous banks.
14 January 2008 and validly delivered to the Settlement Agent before 10.
The truth is that the conduct suggested to be unethical acting as a title agent and settlement agent actually allows for economic and efficient representation.
The proposed regulations provide an exception that payments made to an attorney acting as a settlement agent in a real estate closing are not subject to reporting under Sec.