Closing Date

In real estate, date on which the seller delivers the Deed and the buyer pays for the property. For example, the sales contract generally establishes a closing date, at which time the parties will meet and settle all accounts necessary to transfer Title to the property.

The date on which the seller delivers the Deed and the buyer pays for the property.
Example: The sales contract generally establishes a closing date, at which time the parties will meet and settle all accounts necessary to transfer Title to the property.