Real Estate Settlements Explained

hangerlawLitigation 6 Comments

To help fix the problem of “delayed disbursements” in a real estate transaction, the VA code was amended in 1980 to require settlement agents to disburse funds within two days of closing. While there is more to this “Wet Settlement Act” than just disbursement, it helped pave the way to Virginia attorneys and title companies conduct settlements, recordings and disbursements. …