closing n: the fulfillment or performance of a contract esp. for the sale of real estate
: a meeting at which the closing of a contract takes place [represented us at the ] NOTE: At the closing for the completion of the sale of real property, the purchase price is paid and title is transferred to the purchaser or mortgagor.
Source: Merriam-Webster's Dictionary of Law ©1996. Merriam-Webster, Incorporated. Published under license with Merriam-Webster, Incorporated.
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