Settlement refers to the process of resolving a dispute or legal case outside of court. This often involves negotiations between the parties involved, where they agree on terms that satisfy both sides. Settlements can save time and money compared to a lengthy court trial, making them a popular choice in various legal matters, including civil lawsuits and family law cases. In real estate, a settlement is the final step in a property transaction. During this process, the buyer and seller complete the necessary paperwork, transfer ownership, and settle any financial obligations, such as closing costs. This ensures that the buyer officially takes possession of the property, while the seller receives payment, marking the completion of the sale.