RESPA is the Real Estate Settlement Procedures Act. Settlement is the "closing" of a real estate transaction. Your settlement company will use its knowledge of real property laws, contacts in the offices of the Recorders of Deeds, Courts, and Surveyors' offices, and the information provided by the parties to the transaction to assemble and review the pertinent documentation then effect a title transfer. When a buyer and seller ratify (both parties have signed) a sales contract, the settlement company is sent a copy of the contract along with contact information for the buyers and sellers. (1 comments)