Executed Contract vs. Executing a Document

Executed Contract vs. Executing a Document.When people say they are “executing” a document, they mean that the document has been signed by all parties to the contract. In real estate, professionals often use the term executed contract to indicate that the contract—whether on paper or in digital form—has been signed by both the buyer and the seller. In this context, the date of execution is the date the final required signature is added, which is usually called the effective date.However, in contract classification, the term executed contract has a different meaning. An executory contract is one in which some obligation still must be completed in the future, such as closing on title. By contrast, an executed contract (as a classification) is one that has been fully performed, with all duties completed and nothing left for either party to do.