| name | alta-settlement-statement |
| title | ALTA Settlement Statement |
| description | Drafts a mathematically balanced ALTA Settlement Statement for U.S. real estate closings, allocating debits and credits between buyer and seller with prorations, payoffs, lender fees, title charges, and transfer taxes. Enforces balance verification (seller credits minus debits equals cash to seller; buyer debits minus credits equals cash from buyer) and cross-references title commitment, loan documents, and purchase agreement. Use when preparing closing financials, settlement statements, HUD-equivalent documents, or real estate closing allocations. |
| author | CaseMark |
| author_url | https://github.com/CaseMark/skills/tree/main/skills/legal/alta-settlement-statement |
| license | Apache-2.0 |
| version | 0.1.0 |
| execution_mode | open |
| jurisdiction | us |
| practice | real-estate |
| language | en |
| tags | ["drafting","summary","transactional"] |
ALTA Settlement Statement
Drafts a mathematically balanced, ALTA-compliant settlement statement allocating all transaction costs between buyer and seller at closing.
Prerequisites
- Purchase and Sale Agreement — sales price, earnest money, seller concessions, cost allocation.
- Title Commitment — premiums, endorsements, exception items requiring payoff.
- Loan Documents — new loan amount, lender fees, prepaid items.
- Payoff Statements — existing mortgage(s) and lien balances with per diem rates.
- Closing/Disbursement Dates — both required for proration calculations.
- Tax Records — current year amount, payment status (arrears vs. advance), last paid date.
- HOA Documents — dues, transfer fees, special assessments.
- Commission Instructions — total amount and brokerage split.
Output Structure
Header Block
| Field | Content |
|---|
| Settlement Date | Date documents are signed |
| Disbursement Date | Date funds are distributed |
| Settlement Agent | Name, firm, address, phone |
| Property Address | Street address + legal description reference |
| Buyer/Borrower | Full legal name(s) |
| Seller | Full legal name(s) |
Seller's Transaction
Credits to Seller: Gross sales price; seller financing; prorated items in seller's favor; earnest money (if seller-held).
Debits against Seller: Existing mortgage payoff(s) + per diem interest; second liens and judgment payoffs; commissions (listing + selling); seller-paid closing costs per contract; owner's title insurance (if seller-paid); transfer taxes; recording fees; repair credits / concessions to buyer; HOA dues, transfer fees, estoppel fees; prorated property taxes (seller's share through closing).
Net: Cash Due to Seller (or Cash Required from Seller if negative).
Buyer's Transaction
Debits to Buyer: Gross sales price; lender origination fees, points, underwriting; appraisal, credit report, flood cert; prepaid interest (closing through month-end); initial escrow deposit (tax + insurance reserves); hazard insurance premium; owner's title insurance (if buyer-paid); lender's title insurance + endorsements; recording fees (deed + mortgage); transfer taxes; HOA transfer fees, working capital; prorated items owed to seller.
