Completion

 

Home
Site Map
Add Term
Search
About Us
Contributors

Completion

This is the date when the buyer's solicitor forwards the funds for the purchase of the house to the seller's solicitor. Once the seller's solicitor has received the funds, the buyer legally becomes the owner of the property and can move in. The mortgage must be effective before this date in order for the funds to be transferred. The buyer must also pay stamp duty, if applicable, and register their name with the Land Registry. 



Completion

Similar Matches

Completion date

Completion date

The point at which contracts have been exchanged and legal transfer of the property from the seller to the buyer is finalised. The buyer can take possession of the property from this day.


Completion undertaking

Completion undertaking

An undertaking either (1) to complete a project so that it meets certain specified performance criteria on or before a certain specified date, or (2) to repay project debt if the completion test cannot be met.


Completion statement

Completion statement

A statement, prepared by the seller, stating exactly how much the buyer should be paying on completion.


Completion bonding

Completion bonding

Insurance that a construction contract will be completed successfully.


Completion risk

Completion risk

The risk that a project will not be brought into operation successfully.




 
All rights Reserved. Do not copy without permission.