proration-schedule

name	proration-schedule
title	Proration Schedule
description	Drafts a legally compliant proration schedule for real estate closings, allocating taxes, HOA fees, rent, utilities, and other obligations between buyer and seller. Triggered when preparing settlement documents, closing prorations, asset purchase closings, or real estate closing statements requiring expense allocation by closing date.
author	CaseMark
author_url	https://github.com/CaseMark/skills/tree/main/skills/legal/proration-schedule
license	Apache-2.0
version	0.1.0
execution_mode	open
jurisdiction	us
practice	real-estate
language	en
tags	["agreement","drafting","transactional"]

Proration Schedule

Drafts a mathematically precise proration schedule allocating property expenses, income, and obligations between buyer and seller at closing.

Prerequisites

Collect before drafting:

1. Purchase agreement — closing date, closing-date-charge convention, proration terms
2. Property tax records — current/prior year bills, assessment notices, pending appeals
3. HOA documents — governing docs, statements, special assessments
4. Lease agreements (if tenant-occupied) — rent rolls, security deposits, prepaid rent
5. Utility bills — water, sewer, trash, property-linked services
6. Title commitment — legal description, parcel ID, encumbrances
7. Insurance policies (if transferring) — premiums and coverage periods

Quick Start

1. Gather all prerequisite documents
2. Set closing date and day-count convention (365-day default or 360-day if jurisdictionally required)
3. Determine closing-date allocation (buyer or seller bears closing date)
4. Identify all proration items from the checklist
5. Calculate daily rates and allocations for each item
6. Draft post-closing adjustment provision for estimated amounts
7. Verify net proration ties to settlement statement / Closing Disclosure

Document Header

Include: document title ("Proration Schedule"), preparation date, closing date, property (address + legal description + parcel ID), escrow/file number, seller(s) and buyer(s) full legal names and addresses, applicable jurisdiction, and day-count convention used.

Proration Items Checklist

Identify all applicable items:

• Real property taxes (actual or estimated)
• HOA regular fees and special assessments
• Rental income and security deposit transfers
• Water/sewer, trash, other property-linked utilities
• Prepaid insurance premiums (if policy transfers)
• Improvement district / special district charges

Calculation Table

For each proration item, present:

Column	Description
Item	Description of charge
Total Amount	Full periodic amount
Period Covered	Start–end dates
Daily Rate