Settlement

An agreement between the parties disposing of a lawsuit.

Parties to a lawsuit resolve their difference without having a trial. Settlements often involve the payment of compensation by one party in satisfaction of the other party's claims.

Parties to a lawsuit resolve their dispute without having a trial. Settlements often involve the payment of compensation by one party in at least partial satisfaction of the other party's claims, but usually do not include the admission of fault.

After negotiating, the amount you agree to accept from the insurance company as full payment for your loss.

After negotiating, the amount you accept from the insurance company as full payment for your loss.

The process of completing a loan transaction at which time the mortgage documents are signed and then recorded, funds are disbursed, and the property is transferred to the buyer (if applicable). Also called closing or escrow in different jurisdictions. See also "Closing"

Another name for closing.

An agreement between plaintiff and defendant in a civil case prior to trial.

The sinking of land surfaces because of subsurface compaction, usually occuring when moisture, added deliberately or by nature, causes a reduction in void volumes.