Warning

Info

Warning

Info

Warning

Info

LSDefine

Simple English definitions for legal terms

closing statement

Read a random definition: entice

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

Warning

Info

General

General chat about the legal profession.
main_chatroom
👍 Chat vibe: 0 👎
Help us make LSD better!
Tell us what's important to you
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.
good morning lsd it is 5 am EST
also jazzy my ndls address went long ages ago i sadly do not think it means anything
my stanford address also went long LOL i think at most it's an indicator it's under review
LSD+ is ad-free, with DMs, discounts, case briefs & more.