A settlement statement is a document provided three days from closing that details every individual cost related to a real estate transaction.
Settlement statements and statements of adjustment are straightforward if both parties have made all payments on time. However, issues can arise if, for example, the seller misses a final strata payment or two. This is why it’s so important to keep your solicitor or settlement agent thoroughly...
What is a Settlement Planner? A settlement planner is financial advisory team member, someone in your corner, a member of your brain trust, who can provide expert advice, guidance and assistance in a variety of ways to helpdesign the optimal plan for allocation and distribution of plaintiffs'...
Drawee is a legal and banking term used to describe the party that has been directed by a depositor to pay a certain sum of money to the person presenting a check or draft written by the depositor. A typical example of a drawee involves cashing a paycheck. The bank that cashes your chec...
In legal contexts, recidivism refers to a person’s relapse into criminal behavior, often after having been previously convicted and penalized for similar or other crimes. When someone re-offends, they are described as a “recidivist.” Recidivism is a critical metric for evaluating the effectivene...
What Is a Trust? A trust is a legal entity with separate and distinct rights, similar to a person or corporation. In a trust, a party known as a trustor gives another party, a trustee, the right to hold title to and manage property or assets for the benefit of a third party, the ...
Settlement is a vital component of financial and real estate transactions, ensuring the accurate and timely transfer of ownership and payment. By understanding the processes, importance, challenges, and examples of settlement, market participants can better navigate their transactions and manage associated...
a settlement may provide you with more money in the long run. Seeking a settlement often requires that you pay some legal fees, and it can take some time to argue and prove your case. If you’re losing your job due to a company sale or merger, downsizing or other reason that is out...
NAR said the proposed settlement in the Burnett case would resolve all of the lawsuits against the association, and will go into effect in mid-July if the court approves it. NAR is a trade association with more than 1.5 million members working in the real estate industry. The association ...
A final settlement is an agreement that closes a case and ensures that it cannot be brought up again. In most cases, a final...