(i) A policy benefit of claim payment. (ii) Conclusion of litigation by the mutual agreement of parties involved prior to final verdict; certain settlements must be court approved.(iii) An instrument by which property is settled on a person or persons. (iv) A lateral movement, as opposed to subsidence.
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UK: 1. An agreement to resolve a dispute. 2. A payment of an account or claim. 3. In respect of buildings it means movement in a lateral direction but in practice it is not so restricted. Every new property settles on its foundations and the stresses and strains of this movement cause cracks in the plaster and other minor damage. It is not easy to distinguish subsidence damage from settlement damage. 4. A document, such as a deed or will, defining the way of succession to land or other property or enjoyment of the rents and profits thereof.
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MEDICAL, USA: See: financial settlement .