In plain English
It refers to the handover of the property's keys at completion. The status indicates that, on that day, the keys have been passed to the person who is becoming the owner or occupier.
In context
Here, it reports that, on the completion day for the sale or tenancy, the property's keys have been given to the new owner or occupier.
- Situation
- Following home-purchase, mortgage, valuation, survey, and closing administration
- What it communicates
- reports that the keys have been made available.
Meaning limits
By itself, this term does not establish anything beyond the handover of the property's keys on the completion day.
Examples
“The sale had completed, but Keys released was not confirmed until the buyer received the front-door set that evening.”
“After the landlord handed the new occupier the flat keys, the tenancy file showed Keys released.”