Alta Settlement Statement

Draft Balanced ALTA Settlements in Minutes

12 minutes with Para

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Get started with Para

Para is an AI colleague for legal teams. Send it this work by email, Teams or Slack, and it hands back the finished document.

12 minutes with Para

What you'll need

Purchase and Sale Agreement
Title Commitment
Loan Documents

Plans from $20 a month, with usage included.

Workflow

Overview

CaseMark's ALTA Settlement Statement skill automatically drafts mathematically balanced closing documents for U.S. real estate transactions. By analyzing your purchase agreement, title commitment, loan documents, and payoff statements, it produces a comprehensive settlement statement that accurately allocates every debit and credit between buyer and seller. The result is a professionally formatted, balance-verified closing document ready for review and execution.

Preparing an ALTA Settlement Statement manually requires painstaking cross-referencing of purchase agreements, title commitments, loan documents, payoff statements, and tax records. A single miscalculation in prorations or a missed lien payoff can delay closings, create trust account discrepancies, and expose settlement agents to liability.

CaseMark automates the entire settlement statement drafting process by ingesting all relevant closing documents and producing a mathematically balanced ALTA-compliant statement. Every proration, payoff, fee, and tax is calculated and allocated according to the purchase agreement, with built-in balance verification ensuring accuracy before the document ever reaches the closing table.

How to hand this to Para

1. Send Para the files
Email them, drop them in a Teams or Slack message, or upload them.
2. Para runs the Alta Settlement Statement skill
It works from your files and checks its citations against the record.
3. The finished document comes back
Para returns it where you asked, usually as a DOCX, and offers the next step.

Example request · email, Teams or Slack

Para, run the Alta Settlement Statement skill for the Garcia matter. I've attached the Purchase and Sale Agreement, Title Commitment and Loan Documents. Send the finished draft back here as a DOCX.

What Para does

1. Upload your purchase agreement, title commitment, loan documents, payoff statements, and tax records
2. AI analyzes all documents and calculates prorations, payoffs, fees, and cost allocations
3. Review the balanced ALTA Settlement Statement with itemized buyer and seller columns
4. Export the finalized settlement statement in your preferred format (DOCX, PDF)

What you get

Header Block with Settlement and Disbursement Details
Seller's Transaction (Credits, Debits, Net Cash Due)
Buyer's Transaction (Debits, Credits, Net Cash Required)
Proration Schedule
Balance Verification Summary

What it handles

Mathematically balanced buyer/seller debit-credit allocation with automatic verification
Automated proration calculations for taxes, HOA dues, and prepaid items
Cross-references title commitment, loan documents, and purchase agreement
Comprehensive payoff tracking with per diem interest calculations
Itemized lender fees, title charges, and transfer tax breakdowns
Formatted header block with settlement agent, property, and party details

Required documents

Purchase and Sale Agreement
The executed purchase agreement specifying sales price, earnest money, seller concessions, and cost allocation terms
.pdf, .docx
Title Commitment
Title commitment showing premiums, endorsements, and exception items requiring payoff
.pdf, .docx
Loan Documents
New loan documents including loan amount, lender fees, origination charges, and prepaid items
.pdf, .docx

Supporting documents

Payoff Statements
Existing mortgage and lien payoff statements with per diem interest rates and good-through dates
.pdf, .docx
Tax Records
Current year property tax amount, payment status (arrears vs. advance), and last paid date
.pdf, .docx
HOA Documents
HOA dues schedule, transfer fees, estoppel letters, and special assessment notices
.pdf, .docx
Commission Instructions
Brokerage commission instructions specifying total amount and listing/selling agent split
.pdf, .docx

Why teams use it

Eliminate manual calculation errors with automated balance verification across buyer and seller columns

Reduce settlement statement preparation time from hours to minutes with AI-powered document analysis

Ensure contractual compliance by cross-referencing cost allocations against the purchase agreement

Streamline last-minute changes with instant recalculation when payoff figures or closing dates shift

Questions

How does CaseMark ensure the settlement statement balances correctly?

CaseMark enforces automatic balance verification by confirming that seller credits minus debits equals cash to seller, and buyer debits minus credits equals cash from buyer. Any discrepancies are flagged before the final output is generated.

Can this handle complex transactions with multiple payoffs and liens?

Yes. CaseMark processes multiple existing mortgage payoffs, second liens, judgment payoffs, and HOA assessments simultaneously. Each payoff is itemized with per diem interest calculations through the disbursement date.

Does this replace a HUD-1 Settlement Statement?

The ALTA Settlement Statement is the industry-standard successor to the HUD-1 for most residential and commercial closings. CaseMark generates a fully compliant ALTA-format document that serves as the modern equivalent of the HUD-1.

How are property tax and HOA prorations calculated?

CaseMark calculates prorations based on the closing and disbursement dates you provide, accounting for whether taxes are paid in arrears or in advance. HOA dues, transfer fees, and special assessments are allocated according to the purchase agreement terms.

What if the purchase agreement assigns certain costs differently than standard practice?

CaseMark reads your purchase agreement to identify custom cost allocations, seller concessions, and negotiated terms. The settlement statement reflects the contractual allocation rather than applying generic defaults.

Can I update the statement if payoff figures or closing dates change?

Absolutely. Simply upload updated payoff statements or adjust the closing and disbursement dates, and CaseMark will regenerate the settlement statement with recalculated prorations and balances.