an arrangement to end a legal dispute before a final adjudication (=decision by a court) of a matter
The parties were unable to reach an out-of-court settlement, so the case proceeded to trial.
the transfer of property from one owner to another
A settlement agent will protect your interests during the settlement process.
the act of arranging for a trustee to keep land for a beneficiary
In most jurisdictions, settlements only confer beneficial rights under a trust.