HUD-1 settlement statement

noun
\ˈhəd-ˈwən-\

Legal Definition of HUD-1 settlement statement 

: a form signed at closing that sets out expenses, disbursements, and adjustments relating to the purchase of real property

History and Etymology for HUD-1 settlement statement

Department of Housing and Urban Development (which publishes the form) + 1 (indicating its place in a sequence of such forms)

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