formal settlement definition
formal settlement means an area where basic levels of services are provided in a proclaimed township.
formal settlement means an in-person, face-to-face meeting
formal settlement means an in-person, face-to-face meeting with the homeowner to complete final documents incident to the sale or transfer of real property, or the creation of a mortgage or equitable interest in real property, that is conducted by a settlement agent who is not employed by or an affiliate of the foreclosure purchaser and during which the homeowner must be presented with a completed copy of the HUD-1 settlement form.