Apportionment Calculator
This free tool is available to all our Suite users.
It's designed to accurately calculate apportionments for both leasehold and freehold property sales and purchases
especially when a Management Company is involved.
Whether you're selling or buying, this calculator helps determine what your client owes or is owed,
particularly for payments like ground rent, maintenance, and insurance.
You can easily remove any of these standard items or add an unlimited number of your own custom items to suit specific needs.
The calculation is personalized with your firm's name and logo,
the matter reference and/or address, the matter type, and the property value.
The completion date is captured, along with an option to specify whether the purchaser or the seller is responsible for costs on and including the completion date.
These details form the basis of the calculation.
Crucially, the tool handles scenarios where a seller has paid in advance beyond the completion date, or is in arrears and needs
to make an allowance to the buyer.
It correctly accounts for leap years, adding an extra day if the period extends over the end of February.
For each item, you specify whether it is incoming or outgoing,
the payment period (yearly, bi-annual, quarterly, or monthly),
the end-of-period date, the full-period amount due, and the amount paid or received to date for that period.
The calculator then accurately determines what is owed or due based on the apportionment.
You can then download a professionally branded calculation and/or statement to send directly to the buyer's solicitors,
detailing the payment due to or from them on completion,
along with the full calculation.
Solicitors also find this tool invaluable when acting for the buyer,
enabling them to efficiently check apportionment figures received from the seller's solicitors.