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LSDefine

Simple English definitions for legal terms

closing

Read a random definition: single-date-of-removal doctrine

A quick definition of closing:

Closing: Closing is the final step in a deal or transaction. It usually happens in real estate when the buyer pays for the property and the seller hands over the deed. A lawyer or lending company agent helps with the process, which involves signing many important documents. Once everything is signed, the deal is done and cannot be changed.

A more thorough explanation:

Closing

Closing is the final step in a deal, contract, or transaction. It's when all the necessary paperwork is signed, payment is made, and ownership is transferred. In real estate, closing is when the buyer and seller exchange the deed and payment. This process is usually overseen by a lawyer or lending company agent, and can involve many documents to comply with regulations.

Example 1: After months of negotiations, the two companies finally reached a closing on their merger deal. All the paperwork was signed, and the new company was officially formed.

Example 2: The closing on the house was scheduled for Friday afternoon. The buyer and seller met with their lawyers to sign the final documents and exchange the deed and payment.

These examples illustrate how closing is the final step in a transaction, where all the necessary paperwork is signed and ownership is transferred. In the first example, the closing marks the official formation of a new company. In the second example, the closing is when the buyer officially becomes the owner of the house.

closely held corporation | closing argument

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19:43
@Dkk: yeah register 1 website and every swinging tom dick and harry calls/emails/texts to 'help with seo'. like bruh, if YOU found it, what i am doing is working
Dkk
19:43
Indeed!
19:48
wasp, i think people are hopeful for a gov who at least attempts to care about the common man
MIAMI A
[] AromaticTroubledDormouse
20:55
How does one know if they are UR1 or UR2?
[] AromaticTroubledDormouse
20:56
CONGRATS MACAQUE!
TY
got a random stanford email and almost had a heart attack
ALSO CONGRATS!
Congrats1!
21:15
Miami A, yall I'm so excited I could cry.
21:15
Feel like I can finally stop holding my breath!! Whew!!!
[] baddestbunny
22:16
every time I get accosted by a strange man who follows me around because my male coworkers were too busy talking to walk me back to my car I get closer to saying we need to bring back traditional gender roles
Dkk
22:32
Nice! @Macaque
Dkk
22:32
@Aromatic, Have to guess.
Dkk
22:33
That sucks @Bunny do you have to go to the hospital?
[] baddestbunny
22:40
I said accosted not assaulted
23:35
guys. my notre dame address just went long is this good or bad
1a2b3c4d26z
23:37
Oooooo me too
23:37
omg is this good or bad
Dkk
23:47
Idk if gender roles are gunna fix that then.
23:49
it looks like most people who applied in october last cycle didn't get a decision until january... does it even mean anything that our addresses went long??
hows ED 2 compared to ED 1?
Dkk
0:10
No idea
windyMagician
0:34
reporting live to say my ndls address also went long
does it mean anything ^
Dkk
2:21
NDLS and Fordham took a very long time last year. It's good info for people to know.
[] baddestbunny
4:29
let’s get after it boys and girls
Dkk
5:21
I gtg to bed soon.
Dkk
5:22
Big day today. Gunna be a crazy one. I will sleep through the first half.
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