Pro Rata Definition and Legal Meaning
On this page, you'll find the legal definition and meaning of Pro Rata, written in plain English, along with examples of how it is used.
What is Pro Rata?
Latin word meaning Proportionate. It means the division of assets or amount in terms of certain rates, percentage or share in proportion of ownership. Say for instance, if a debtor goes bankrupt, each creditor is entitled to the remainings of the assets of the debtors, proportionately divided according to their debts.