TERMIUM Plus®

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STATEMENT ADJUSTMENTS [1 record]

Record 1 2013-06-04

English

Subject field(s)
  • PAJLO
  • Property Law (common law)
DEF

Statement of debits and credits between vendor and purchaser of a property, such as the purchase price, the deposit made at the time of submitting the offer to purchase, prorated taxes, fire insurance premium, if being taken over by purchaser, etc., and, finally, the balance due on closing.

OBS

The statement of adjustments should be looked upon as the check list for the transaction - while preparing to close, on closing, and later reporting to your client. Therefore the sooner it is operating as a check list, the better for both the vendor's solicitor and the purchaser's solicitor. (Lamont, "Real Estate Conveyancing", 1976, p. 244).

French

Domaine(s)
  • PAJLO
  • Droit des biens et de la propriété (common law)
OBS

état des rajustements : terme normalisé par le Comité de normalisation dans le cadre du Programme national de l'administration de la justice dans les deux langues officielles (PAJLO).

Spanish

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