Can the ALTA Settlement Statement be signed electronically?

Yes. Electronic signatures are valid under the federal ESIGN Act (15 U.S.C. ch. 96) and UETA where adopted, provided intent, consent, attribution, and retention requirements are met.

Is notarization required for the settlement statement itself?

Generally no; notarization is required for the deed or mortgage in most states. Check local recording and notary rules when the statement is used to support recorded instruments.

What happens if numbers don't reconcile at funding?

Funding may be delayed. Resolve discrepancies by updating payoffs or prorations and re‑executing the statement; lenders often require corrected statements before funding.

How long should I keep closed settlement statements?

Retain tax-related records for at least three years (IRC §6501(a)); title and escrow files often kept 7–10 years, and HIPAA records six years under 45 CFR §164.530(j) when applicable.

Can remote online notarization (RON) be used?

Many states permit RON with identity proofing, audio-video recording, and retention requirements; verify the state's permanent RON rules before relying on a remote notary.

Who should sign the settlement statement?

Authorized signers include the buyer, seller, and authorized representatives of any corporate entities. Verify signatory authority for entities and obtain required notarizations or attestations.

Electronic Signature
Templates
Real estate
ALTA Settlement Statement

ALTA Settlement Statement

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ALTA Settlement Statement

Settlement Agent: Escrow/File No.: Settlement Date:

Property Identification

Property Address Assessor's Parcel Number (APN) Legal Description

Parties

Buyer Seller

Transaction Summary

Purchase Price: $ Earnest Money/Deposits: $

New Loan Amount (if any): $ Seller Credit to Buyer: $

Itemized Statement of Charges

Amounts Paid By or On Behalf of Buyer:

Loan Origination / Discount Title Insurance (Buyer) Recording and Transfer Charges (Buyer) Prepaid Items (Taxes, Insurance, HOA)

Amounts Paid By or On Behalf of Seller:

Real Estate Commission Mortgage Payoff / Liens Paid Title Insurance (Seller) Other Seller Credits / Charges

Adjustments and Prorations

Property Taxes Prorated to Seller: $ Taxes Prorated to Buyer: $

HOA / Condominium Dues Prorated: $ Utilities / Other Prorations: $

Totals and Disbursements

Total Funds Received from Buyer: $ Total Due to Seller at Closing: $

Disbursement Instructions / Payees

Disclosures

Lead-Based Paint Disclosure Provided: Yes No

Known Material Defects or Prior Damage Disclosed: Yes No

If yes, provide details

Certifications and Representations

The undersigned certify that the amounts set forth in this ALTA Settlement Statement constitute a full, true and complete accounting of all receipts, disbursements and adjustments made in connection with the settlement of the transaction identified herein. The settlement agent is authorized to disburse funds in accordance with this statement and the applicable closing instructions.

The Buyer and Seller each represent that they have reviewed this statement and that, to the best of their knowledge, it accurately reflects the transaction and the amounts chargeable to or payable by them at the time of closing. Any changes to amounts after execution hereof shall be reflected in a revised settlement statement.

Default; Remedies

In the event of default by either party, the non-defaulting party's remedies shall be governed by the underlying purchase agreement. The settlement agent may retain funds to satisfy recorded liens and authorized charges and shall not be liable for disbursements made in good faith in reliance upon written instructions and documents reasonably believed to be genuine.

Governing Law; Entire Agreement

This Settlement Statement shall be governed by the laws of the state in which the subject property is located. This document, together with the underlying purchase contract and any written closing instructions, constitutes the entire agreement with respect to settlement accounting and supersedes any prior oral or written representations.

Additional Settlement Data

Mortgage / Loan Number(s) Closing / Possession Date

Buyer Printed Name:

By:

Date:

Seller Printed Name:

By:

Date:

What the ALTA Settlement Statement Is and when it's used

An ALTA Settlement Statement is a standardized closing worksheet commonly used in U.S. real estate closings to summarize transaction financials, allocations, and payoffs for all parties. It consolidates the purchaser's and seller's debits and credits, itemizes lender and escrow charges, and reconciles cash to close. Title insurers, escrow officers, lenders, buyers, and sellers rely on the statement to confirm amounts for recording, lien payoff, and wire transfers. The ALTA format promotes consistency across closings and supports underwriting and post-closing audit processes while matching information needed for title insurance and lender review.

Why the ALTA Settlement Statement matters at closing

The ALTA Settlement Statement provides a single, auditable place for all closing figures, reducing disputes and supporting title insurance underwriting and lender compliance.

Who typically prepares and reviews the ALTA Settlement Statement

The document is prepared and reviewed by settlement professionals and stakeholders who need a precise accounting of closing funds.

Escrow or closing officers: prepare the statement, collect payoffs, and reconcile closing funds with the lender and title company.
Lenders and servicers: verify payoff amounts, prepaid items, and HUD/ALTA-required disclosures prior to funding.
Buyers and sellers: review debits and credits to confirm cash to close, prorations, and net proceeds.

Final signed copies are retained by escrow/title, delivered to the lender and parties, and used for post-closing reconciliation and recordkeeping.

Core sections included in a professional ALTA Settlement Statement

A complete ALTA Settlement Statement organizes data so each party can quickly confirm obligations and distributions at closing.

Parties

Lists buyer, seller, lender, escrow/title company, and recording jurisdiction with contact details and file numbers for reference and audit.

Property

Full legal property description, street address, parcel or tax ID and any referenced exhibits so the transaction matches recorded instruments and title policies.

Financial Summary

Purchase price, earnest money, loan amounts, adjustments, and total cash to close presented as reconciled debits and credits for each party.

Adjustments/Prorations

Prorated property taxes, HOA fees, utilities, and prepaid items allocated between buyer and seller based on agreed cutoff and closing date.

Title and Closing Charges

Itemized title insurance premiums, recording fees, courier and wire fees, escrow fees, and lender charges with payer designation and amounts.

Disbursement

Wire instructions and distribution schedule showing payoffs to sellers, lenders, and third parties, plus net seller proceeds ready for disbursement.

Essential data fields every ALTA Settlement Statement must include

Buyer and Seller: Full legal names

Property Description: Legal description

Purchase Price: Numeric amount

Loan Amount: Numeric amount

Closing Date: MM/DD/YYYY

Escrow/Title: Company and file number

Consequences of incorrect or incomplete settlement statements

Recording Delays: Delayed deed recording and lien issues

Title Exceptions: Title insurer may add exceptions or deny coverage

Tax Reporting Errors: Incorrect 1099 reporting or backup withholding

Funding Failure: Lender may refuse to fund

Buyer/Seller Disputes: Post-closing escrow claims or litigation

Regulatory Fines: State penalties for improper disclosures

Common preparation pitfalls to watch for

Mismatched names between documents cause delays and may require corrective deeds or affidavits.
Incorrect prorations or tax year assumptions lead to disputes and post‑closing adjustments.
Missing payoff figures or stale lender demands can prevent timely funding and recording.
Improperly completed wire instructions increase risk of misdirected funds and settlement failures.

Step-by-step: preparing an ALTA Settlement Statement

Follow these sequential steps to assemble a complete and auditable settlement statement for closing.

01

Gather Inputs: Collect purchase contract, lender figures, payoffs, and tax data.
02

Populate Sections: Enter parties, property, and financial line items.
03

Reconcile Totals: Confirm debits equal credits and cash to close.
04

Distribute Copies: Provide signed copies to lender, title, buyer, and seller.

How the ALTA Settlement Statement flows through closing parties

A standard distribution and approval flow ensures all stakeholders see the final numbers before funds move.

Escrow Prepares: Title/escrow compiles figures and drafts the statement.
Lender Reviews: Lender confirms loan and payoff items before funding.
Signer Approval: Buyer and seller review and sign at closing.
Final Disbursement: Escrow issues wires and records instruments.

Formats and supporting documents commonly paired with an ALTA Settlement Statement

The ALTA Settlement Statement is distributed as a final signed PDF and accompanied by key closing documents for record and audit.

Export Formats

Provide final signed copies in PDF (ISO 32000 compatible) for recordkeeping and in editable DOCX for internal reconciliation and ledger import.

Supporting Exhibits

Include deed, mortgage, payoff letters, wire instructions, and any closing affidavits as exhibits to substantiate line items.

Recording Package

Attach the executed deed and required county forms to the settlement statement for submission to the recorder's office.

Audit Trail

Retain signing logs, timestamps, and payment receipts to support post-closing audits and title underwriting.

Practical tips for accurate ALTA Settlement Statements

Adopt consistent procedures to reduce errors and speed funding during high-volume closings.

Confirm legal names are consistent

Verify party names match government ID, loan documents, and title order. Small discrepancies can delay recording and require corrective documentation.

Use live payoffs on closing day

Obtain lender payoff statements updated to the anticipated funding date to avoid residual unpaid balances and last-minute adjustments.

Document prorations method

Record whether tax prorations use actual or estimated figures and include calculation worksheets to prevent post-closing disputes.

Maintain a disbursement checklist

Use a checklist for wire sequencing, lien payoffs, and document recording to ensure funds are released only after required conditions are met.

Key dates and reporting deadlines tied to the ALTA Settlement Statement

Certain filing and reporting deadlines affect tax reporting and record retention after closing.

Closing Date Delivery:

Provide final statement to parties at closing or immediately after; reconciled figures must reflect the executed closing date.

1099 Reporting:

Form 1099-NEC/1099-MISC recipient deadlines typically require copies to recipients by Jan 31 each year.

IRS Record Retention:

Retain tax-related records for at least three years per IRC §6501(a).

County Recording:

Record deeds promptly per county rules to avoid adverse priority issues; recording timing varies by jurisdiction.

Notary/RON Records:

If a RON is used, retain the audio-video and journal entries per the state notary requirements and state law.

Comparison: select eSignature vendor features relevant to settlement workflows

Vendor pricing and feature availability vary; the table below shows common purchase criteria with signNow listed first for comparison.

	signNow	DocuSign	Adobe Sign	PandaDoc	HelloSign
Starting Price	$8/user/mo	$15/user/mo	$14/user/mo	$19/user/mo	$15/user/mo
Free Trial	7-day free trial	Varies by vendor	Varies by vendor	Varies by vendor	Varies by vendor
Bulk Send	Yes	Yes	Yes	Yes	No
Audit Trail	Yes	Yes	Yes	Yes	Yes
HIPAA Compliant	Yes	Yes	Yes	No	No

Frequently asked questions about the ALTA Settlement Statement

Answers to common issues encountered when preparing, signing, and storing ALTA Settlement Statements.

Need help? Contact support

Can the ALTA Settlement Statement be signed electronically?
Yes. Electronic signatures are valid under the federal ESIGN Act (15 U.S.C. ch. 96) and UETA where adopted, provided intent, consent, attribution, and retention requirements are met.
Is notarization required for the settlement statement itself?
Generally no; notarization is required for the deed or mortgage in most states. Check local recording and notary rules when the statement is used to support recorded instruments.
What happens if numbers don't reconcile at funding?
Funding may be delayed. Resolve discrepancies by updating payoffs or prorations and re‑executing the statement; lenders often require corrected statements before funding.
How long should I keep closed settlement statements?
Retain tax-related records for at least three years (IRC §6501(a)); title and escrow files often kept 7–10 years, and HIPAA records six years under 45 CFR §164.530(j) when applicable.
Can remote online notarization (RON) be used?
Many states permit RON with identity proofing, audio-video recording, and retention requirements; verify the state's permanent RON rules before relying on a remote notary.
Who should sign the settlement statement?
Authorized signers include the buyer, seller, and authorized representatives of any corporate entities. Verify signatory authority for entities and obtain required notarizations or attestations.

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