---
title: "Settlement (closing) — What It Means | Ondo RE"
canonical: https://www.ondorealestate.com/glossary/settlement/
---

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- Settlement (closing)
Closing, title & notary[All terms starting with S](/glossary/#letter-S)

# Settlement (closing)

The meeting where documents are signed, funds are disbursed, and ownership transfers.

At settlement the buyer signs loan documents and the deed is executed, funds are wired and disbursed, and the deed is sent for recording. Ownership formally changes when the deed records, which can be the same day or shortly after signing.

Signing and funding are separate steps. A file can be signed and still awaiting funding, which is why possession is defined by the contract rather than by the signing appointment.

## Related terms

- [Escrow officer (settlement agent)The neutral third party who holds funds and documents and carries out the closing according to instructions.](/glossary/escrow-officer/)
- [Closing DisclosureThe final statement of your loan terms and closing costs, provided a set number of days before closing.](/glossary/closing-disclosure/)
- [RecordingFiling the deed and security instrument with the county so the transfer and any liens become public record.](/glossary/recording/)
- [Final walkthroughA last inspection shortly before closing to confirm the property’s condition and that agreed repairs were done.](/glossary/walkthrough/)

## More in Closing, title & notary

- [Acknowledgment](/glossary/notary-acknowledgment/)
- [Apostille](/glossary/apostille/)
- [Condominium](/glossary/condo/)
- [Deed](/glossary/deed/)
- [Escrow officer (settlement agent)](/glossary/escrow-officer/)
- [Homeowners insurance](/glossary/homeowners-insurance/)

## Have a question about your own situation?

Ondo handles brokerage, lending, property management and notary under one roof, so the answer does not change depending on who you ask.

[Talk to Ondo](/contact/)[Browse all terms](/glossary/)