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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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HopefullyInLawSchool
13:34
?
13:35
@HopefullyInLawSchool: Yea, I just got it
i just want a cornell ii :(
13:37
yak you will be fucking shit up at cornell this time next year dw
i love u
13:38
love you too bby
glovediedthisishismom
13:42
what if desantis appoints lara trump and matt gaetz to be floridas senators
Dkk
13:42
Sounds good to me
HopefullyInLawSchool
13:43
@glovediedthisishismom: What if he appoint Ym instead?
HELP
every damn opportunity
13:47
do schools straight reject people from ed or to they always ed-rd if its a no for ED?
HopefullyInLawSchool
13:48
Some schools rject
13:49
Thanks! I couldn't find any reddit thread about it lol
13:49
but just means now I have to wait for the rejection from Davis
glovediedthisishismom
13:53
i just wanna rock
glovediedthisishismom
13:53
bodyadaya
13:53
let it rock
14:17
How are the vibes heading into thanksgiving yall?
HopefullyInLawSchool
14:17
@Law-Guy Im feeling kinda happy I applied YM to UCI hoping it helps (:
Wanna give some head
soap
14:18
Cornell
14:19
@HopefullyinLawSchool What's YM?
14:19
oh no
HopefullyInLawSchool
14:19
you mom
WorthlessAttractiveZombie
14:19
Ouch
HopefullyInLawSchool
14:19
your*
14:19
I fear I realized too late
babycat
14:20
another victim claimed
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