Pro rata legal definition of Pro rata. Pro rata synonyms by the Free Online Law Dictionary.

[Latin, Proportionately.] A phrase that describes a division made according to a certain rate, percentage, or share.

In a Bankruptcy case, when the debtor is insolvent, creditors generally agree to accept a pro rata share of what is owed to them. If the debtor has any remaining funds, the money is divided proportionately among the creditors, according to the amount of the individual debts.

A pro rata clause in an automobile insurance policy provides that when an insured person has other insurance policies covering the same type of risk, the company issuing the policy with the pro rata clause will be liable only for a proportion of the loss represented by the ratio between its policy limit and the total limits of all the available insurance.

pro rata (proh rat-ah or proh ray-tah) adj. from Latin for "in proportion," referring to a share to be received or an amount to be paid based on the fractional share of ownership, responsibility, or time used. Examples: an heir who receives one-quarter of an estate may be responsible for one quarter of the estate taxes as his/her pro rata share. A buyer of a rental property will pay his/her pro rata share of the property taxes for that portion of the year in which he/she holds title.

PRO RATA. According to the rate, proportion or allowance. A creditor of an insolvent estate, is to be paid pro rata with creditors of the same class.

? References in periodicals archive
The regulations would allow employees who are age 59 1/2 to receive a pro rata portion of their pension annuity to the extent they choose to reduce their work as part of a bona fide phased retirement program. Treasury, IRS issue proposed regs on phased retirement by California CPA The DOL explained that, assuming expenses are reasonable, certain administrative expenses may be properly allocated to an individual plan participant's account, and other administrative expenses may be allocated pro rata among all plan participants. Rev. Rul. permits allocation of expenses to former employees by Masnik, Robert H. / The Tax Adviser Beverly will reimburse the government $170 million, with $25 million to be paid within 30 days, and the the rest to be paid over an eight-year period, interest-free, via pro rata reductions in Medicare payments. Beverly finalizes Medicare settlements by ADLER, SAM / Contemporary Long Term Care More results

References in periodicals archive

The regulations would allow employees who are age 59 1/2 to receive a pro rata portion of their pension annuity to the extent they choose to reduce their work as part of a bona fide phased retirement program.

Treasury, IRS issue proposed regs on phased retirement by California CPA

The DOL explained that, assuming expenses are reasonable, certain administrative expenses may be properly allocated to an individual plan participant's account, and other administrative expenses may be allocated pro rata among all plan participants.

Rev. Rul. permits allocation of expenses to former employees by Masnik, Robert H. / The Tax Adviser

Beverly will reimburse the government $170 million, with $25 million to be paid within 30 days, and the the rest to be paid over an eight-year period, interest-free, via pro rata reductions in Medicare payments.

Beverly finalizes Medicare settlements by ADLER, SAM / Contemporary Long Term Care

More results