Completion is when the purchase price transfers from buyer to seller, the Land Registry is updated, and keys are released. For off-plan purchases, completion happens when the building is finished and practical completion is signed off, usually 18–36 months after reservation.
Legal term
Completion
The day ownership transfers and keys hand over.
Related legal terms
More from this category
AML
Rules requiring professionals to verify identity and source of funds.
EPC
Required energy rating of a property for sale or let.
Exchange
The legally binding stage of a property transaction.
MEES
The minimum EPC rating for rental properties.
Tenancy Deposit Scheme
Government-backed schemes that hold tenant deposits.
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