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 ?
FNBO and ATS will also be offering the solution to other regional settlement agent firms that are not currently conducting business with FNBO.
PA) (LSE: BNP) (OTC: BNPQY), as its sub-custodian and settlement agent in Brazil.
Heydasch was the settlement agent for numerous real estate transactions that included unsupported charges and inaccurate payoff amounts on the HUD-1 settlement statements.
As for MCDR, it acts as settlement agent and custodian through its connection with Nasdaq Dubai's central securities depositary to support the transfer of shares between Egypt and Dubai, according to the statement.
The RMLC's longstanding music licensing counsel, Bruce Rich, of the New York City firm of Weil, Gotshal & Manges LLP, acted as settlement agent to negotiate the final terms of the settlement.
Clearnet) for settlement agent bank services for its dark pool.
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.
The state indicted Donald Kishbaugh and Steven Parisi, the owners of Eagle Valley Homes; three Eagle Valley employees, Kimberly Loffio, Lauren Erb, and Rose Perdue; and Anita Peterson, a settlement agent and the owner of Mountain Valley Abstract.
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.
Mizuho Trust & Banking has selected BNP Paribas Securities Services as its sub-custodian and settlement agent in Brazil.
ClosingXchange keeps discrepancies to a minimum by reducing manual data entry, and it leverages existing settlement agent production software for producing closing statements and data.