House Closing at Legal Glossary

What is it? The final transfer of the ownership of a house from the seller to the buyer, which occurs after both have met all the terms of their contract and the deed has been recorded.

Law Definition Added By: Joseph

Send To Friends!

If you'd like to send the House Closing definition to yourself or to your friends/colleagues, just enter the e-mail addresses in the boxes below -

We hope you now understand the meaning of House Closing. If you need any more information on this term, please don't hesitate to contact us.

Other Similar Legal Terms:

Law Terms constructive eviction is When a landlord provides housing that is so substandard that a landlord has legally evicted the tenant. For example, if the landlord refuses to provide heat or water or refuses to clean up an environmental health hazard, the tenant has the right to move out and stop paying rent, without incurring legal liability for breaking the lease.

Law Terms tangible personal property is Personal property that can be felt or touched. Examples include furniture, cars, jewelry and artwork. However, cash and checking accounts are not tangible personal property. The law is unsettled as to whether computer data is tangible personal property. Compare intangible property.

Law Terms sprinkling trust is A trust that gives the person managing it (the trustee) the discretion to disburse its funds among the beneficiaries in any way he or she sees fit.

Law Terms liability insurance coverage is Compensation to third parties who are injured or whose property is damaged due to the fault of the insurance holder. You may have liability insurance for your car or your home, or to cover actions you take in the course of your profession. Liability polices are sometimes called third-party policies.

Law Terms consummation is The actualization of a marriage. Sexual intercourse is required to consummate a marriage. Failure to do so is grounds for divorce or annulment.