Completion

Also known as closing.

In the context of a property transaction, completion is the final step in the legal process of transferring ownership of property. Completion is usually the point at which the purchase price for the property is paid and the transfer documents are dated.

In the context of a loan finance transaction, completion or closing usually refers to the point at which the borrower draws down the loan.

For details on completion meetings, see Practice note, Exchange and completion: share purchases (www.practicallaw.com/7-107-3761).

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