Pro Rata Assessments

Harriett, this is negotiated by the Seller and Buyer before closing. The Seller has usually paid for a period of time after the closing date and they may not ask the Buyer to prorate if the amount is small. Otherwise, they may prorate for the percenatage of payment period each owns the property. For example, with a quarterly payment of $300, paid by the Seller, with the Buyer owning for the last month, then the Seller would ask the Buyer to pay $100.00 ($300 x 1/3).

Let's assume she's asking how assessment ratios are determined. The developer determines how the assessments are to be divided, and puts that information in the CC&R's or master deed. In some cases its equally between homes or lots. In townhomes or condos, the assessment percentage may be based on square footage, or even initial sales price. As long as its consistent, the assessment doesn't have to be even, or equal.

Joe