This precedent is a checklist used to set out and provide details of all relevant documents that are to be received and handed over on settlement.
The settlement sheet is usually provided to the purchaser’s representative’s settlement clerk or agent. This is to assist the person attending settlement to know what documents he or she will need to receive from the various parties.
For example, the title certificate and discharge of mortgage will be required from the vendor through his or her outgoing mortgagee. Cheques will be required from the incoming mortgagee.
This checklist also helps the person attending settlement to know what documents he or she will need to hand over to these parties to effect settlement.
This precedent has been authored for Lexis Nexis by Daniela Terruso, Director, Intelmar Pty Limited.
This document is prepared with the assistance of General Editor Christopher Conolly, Partner, TressCox Lawyers and Specialist Editor, Peter Rosier, Principal, Rosier Partners Lawyers.