|
|
| Setting boots
|
|
Four foot long lath stakes, used as a guide when grading property, that are marked with the surveyor's cuts and fills rounded to the nearest foot, driven behind the surveyor's hubs. |
| Settlement
|
|
Legal procedure in which property ownership is transferred. |
| Settlement costs
|
|
Money paid by borrowers and sellers to effect the closing of a mortgage loan. This normally includes an origination fee, discount points, title insurance, survey, attorney's fee and such prepaid items as taxes and insurance escrow payments. |
| Settlement document
|
|
Document detailing what has been paid and by whom. |
| Settlement fees
|
|
Also known as closing fees, they are paid to the escrow agent, who may be an attorney or a title insurance company, for carrying out the written terms of the agreement between the borrower and the seller and the lender, if there is one. |
| Settlement statement
|
|
Document detailing the final financial settlement and costs paid by both buyer and seller of a property. |
| Settling
|
|
(1) Solids, once suspended in liquid, falling to the bottom of a container. (2) Sinking to the earth from the effects of gravity. |
| Severalty
|
|
Ownership of real estate by only one person, it is often called sole ownership. |
| Severalty ownership
|
|
Person's title to real estate giving him exclusive power and rights over it. |
| Severance damages
|
|
Monetary award given by the government to a person whose property has been subjected to condemnation. |
|
|
|
|
|
