#803
When an item is prorated at closing the item is considered the type of item which will not have to be paid for.
Is this fact true or false ?
Please take your time. The solution is posted below the wildlife photo.

A. False
When an item is prorated the item will be calculated as an expense based on a certain time period and cost rendered according to a portion of an amount divided by the number of days or any specified time element representative of the original assessment and mutliplied as a fraction of the whole.

Legal Disclaimer:
The information and notices contained in this blog are intended to summarize recent developments and news. The posts are presented as general research and information. These posts are not intended, nor should be regarded, as legal advice. Some blog posts concern allegations made in civil lawsuits and in criminal indictments in United States Courts. All persons are presumed innocent until convicted of a crime and proven guilty. Readers who have particular questions or who believe that they need legal counsel should seek the advice of a qualified attorney. It is neither the editor's or author's intention to create a confidential relationship or any broker-client relationship via communication from this site at any time.
Please consult with your state real estate board if questions & answers in the education section conflict with the laws of your region or if you need clarification regarding their applicability or how they may govern the services you provide.
Content Protected © 2012
