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Simple English definitions for legal terms

closing statement

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A quick definition of closing statement:

A closing statement is a summary of the costs involved in a real estate transaction. It can be presented as a written breakdown by a lender or an escrow agent. It is also known as a settlement sheet or settlement statement.

A more thorough explanation:

A closing statement is a term used in two different contexts:

  1. Closing argument: It refers to the final argument made by an attorney in a trial or hearing. The purpose of the closing statement is to summarize the evidence presented and persuade the judge or jury to rule in favor of their client. For example, in a criminal trial, the prosecutor may make a closing statement to convince the jury that the defendant is guilty beyond a reasonable doubt.
  2. Settlement statement: It is a written document that outlines the costs involved in a real estate transaction. It is usually prepared by a lender or an escrow agent and includes details such as the purchase price, loan amount, closing costs, and prorated taxes. For example, when a person buys a house, they will receive a closing statement that shows how much money they need to pay to complete the transaction.

Both examples illustrate the definition of a closing statement. In the first example, the closing statement is a persuasive argument made by an attorney to convince the judge or jury to rule in their client's favor. In the second example, the closing statement is a document that summarizes the costs involved in a real estate transaction and helps the buyer understand how much money they need to pay to complete the purchase.

closing price | closure

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medicine is a scam
join the ethically ambiguous legal field instead
Dkk
18:57
I want to meet an attorney that defends clients who run into flat earth problems. I want an attorney that knows and believes in flat earth theory.
19:05
i want a flat earther for president. i want a guy who posts on 4chan for president. i want someone who mogs for president.
Dkk
19:18
Exactly. My version of that awful poem.
Dkk
19:19
I can accept a president with maybe one or two of the poems traits hut good God, all of them??? No ty.
windyMagician
19:20
president who respects sex is crazy
windyMagician
19:20
we had bill clinton already
Dkk
19:21
Bill Clinton, first and last black president
windyMagician
19:23
I want to go running but my leg feels weird
windyMagician
19:23
it doesn't hurt its just tingly
Dkk
19:26
It needs more alcohol. You tingle when your nerves need watering.
19:27
try stretching it maybe to see what's up
windyMagician
19:27
stretches make me think it's just soreness
windyMagician
19:27
I'm sober lol
Dkk
19:38
Anyone else get the google notification that your LSD password has been compromised lol. LSD got hacked.
20:48
what.jpg @Dkk
CynicalOops
21:03
You think you just fell out of a coconut tree?
jackfrost11770
21:10
nope dk
CynicalOops
22:37
Calvinamala Harris
jackfrost11770
23:16
should i start using letterboxed again
Dkk
23:25
@jackfrost11770: if you want but like it aint for me
dk do u ever eat at bk
Dkk
23:48
@chickenburgahfart: I would do that in the Army if really desperate for food or if I had to work through lunch. One of the few fast food places I go to.
bk so slept on
Dkk
0:23
I will take In N Out everyday over it when I can though.
texaslawhopefully
1:22
In N Out is not only the best fast food place, but the prices too are fantastic
Dkk
1:27
Indeed, indeed.
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