Definitions for "prorate"
Related Terms:
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To allocate proportionately.
To divide or distribute proportionally; to assess pro rata.
To divide or distribute equally.!-- google_ad_client = "pub-2622349319785902"; google_alternate_ad_url = "http://www.remodelormove.com/google_adsense_script.html"; google_ad_width = 728; google_ad_height = 90; google_ad_format = "728x90_as"; google_ad_type = "text"; google_ad_channel ="9707752874"; google_color_border = "ffffff"; google_color_bg = "ffffff"; google_color_link = "537F57"; google_color_url = "A4B9A6"; google_color_text = "000000";
To distribute proportionality. Property taxes, insurance, or condominium fees are often prorated at settlement.
To divide or assess proportionally.
make a proportional settlement or distribution
divide or assess proportionally; "The rent was prorated for the rest of the month"
To allocate between the seller and the buyer their proportionate share of obligation paid or due. Examples include property taxes, fire insurance or a condominium fee.
To divide monies, or obligations into fair shares between buyers and sellers. Example: Taxes are usually prorated between buyers and sellers based on the number of days during the tax year that each owns the property.
To divide, distribute, or assess on the basis of proportion.
To divide in proportionate shares, such as taxes, insurance, rent, or other items.
Allocation between seller and buyer of their proportionate share of obligations paid or due. Examples include proration on real property taxes, fire insurance, or condominium fees.
To divide, distribute or assess based on proportion.
To allocate between two or more parties, the proportionate share of each. For example, the payment of property taxes or insurance premiums may be prorated between buyer and seller.... read full article
A formula used between sellers and buyers to proportionate the share of an obligation such as real estate taxes or hazard insurance.
To allocate percentages of certain expenses to be paid by the buyer and seller at the time of closing.
To allocate between seller and buyer their proportionate share of an obligation paid or due. For example, a proration of real property taxes or fire insurance premiums.
To divide equitably. In real estate, refers to how property taxes are divided between buyer and seller based on when the property changes hands.
To proportionally divide amounts owed by the buyer and the seller at closing. Go to Top
To divide proportionally to time or use.
Prorating is typically done between a buyer and seller in order to identify who has what obligation to items associated with a piece of real estate which are prepaid or obligations incurred after the sale but associated with use and title prior.
1) To apportion a divisible item among parties according to their share. 2) Divide or assess proportionately.
To divide in proportionate shares. Used in the context of a closing, at which such as property taxes, interest, rents, and other items are adjusted in favor of the seller, buyer, or lender.
Proportionate division of expense based on days or time occupied or used by the seller and/or buyer.
To allocate between seller and buyer their proportionate share of an obligation paid or due. For example a prorate on real property taxes, fire insurance, or condominium fee.
Divide or assess proportionately, as in the case of daily interest accrued prior to closing.
To divide, distribute or assess proportionately.
To allocate between seller and buyer their proportion ate share of an obligation paid or due: For example, a prorate of real property taxes, hazard insurance, condominium fee, etc.
to proportionally allocate between the seller and buyer an obligation, such as taxes, that has been paid or is due to be paid.
Divide or assess proportionatly.
Expenses, either prepaid or paid in arrears, that are divided or distributed between buyer and seller at the closing.
Allocation of percentages of certain expenses to be paid by the buyer and seller at time of closing.
To divide or distribute proportionately.
To divide or assess proportionate shares of charges and credits between the buyer and the seller according to their individual period of ownership
To divide the proportionate share of existing expenses on a piece of property between the seller and buyer, e.g., taxes owed at the time of a transfer of title from the seller to the buyer
To divide expenses and income between a buyer and a seller in proportionate shares.
to allocate between seller and buyer their proportionate share of an obligation paid or due; for example, to prorate real property taxes or insurance. -- View Real Estate Listings
The seller and buyer allocate their proportionate share of an obligation paid or due. For example, real property taxes, fire insurance or condominium fees may be prorated. back
Keywords:
prospectus
Prospectus
Portion of a joint rate or charge obtained by proration.