Closing Statement: A detailed cash accounting of a real estate transaction showing all cash received, all charges and credits made and all cash paid out in the transaction.

 

Related Words

Closing Statement: A closing statement, also called a HUD1 or settlement sheet, is a legal form your closing or settlement agent uses to itemize all of the costs you and the seller will have to pay at closing . . . View Full Definition

Reduction Certificate (Payoff Statement): The document signed by a lender indicating the amount required to pay a loan balance in full and satisfy the debt, used in the settlement process to protect both the sellers and the buyers interests.

Real Estate Transfer Disclosure Statement: As required by California Civil Code Sections 1102-1102.14, a transferee (buyer) of residential real property is entitled to a statement from the transferor (seller) which provides informati . . . View Full Definition

Registration Statement: A legal document filed with the SEC to register securities for public offering that details the purpose of the proposed public offering. The statement outlines financial details, a history o . . . View Full Definition

Purpose Statement: A form filed by a borrower that describes the use of a loan backed by securities, and guarantees that the funds lent will not be used illegally to buy securities against Federal Reserve regulations.

Reinstatement: To bring something back to its prior position, as in restoring a defaulted loan to current status.

Seller Financing Disclosure Statement: There are specific additional duties imposed upon the licensee who negotiates a sale of real property when the seller receives a portion of the sales price in the form of a promissory note s . . . View Full Definition

Retained Earnings Statement: A statement of all transactions affecting the balance of a company's retained earnings account.

Rental Statement: A summary of rental amounts paid and security deposits collected on a property used for rental purposes.

Public Health Statement: The first chapter of an ATSDR toxicological profile. The public health statement is a summary written in words that are easy to understand. The public health statement explains how people mi . . . View Full Definition