Upon a sale of property,the document that sets out the debits and credits that must be adjusted to arrive at the proper amount to be paid on closing is called the

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The statement of adjustments is a document that sets out the debits and credits that must be adjusted to arrive at the proper amount to be paid on closing. It is used to calculate the final purchase price and ensure that each party pays their fair share of the expenses related to the sale, such as property taxes and utility bills. Requisitions are requests made by the buyer's lawyer for information or documents that are necessary to complete the transaction. A draft deed is a preliminary version of the deed that will transfer ownership of the property. Charges and mortgages are legal claims against a property that secure a debt or obligation.

Upon a Sale of Property,the Document That Sets Out the Debits