Rate Adjustments relate to the transferring of rates paid or unpaid until settlement to the appropriate people. This means that all rates and taxes on the property will be split between the vendor and the purchaser pursuant to the date of settlement. The vendor will be required to pay all monies due on the property until settlement, and the purchaser will pay all monies from the date of settlement and onward. The amount of adjustments owing by each party will therefore depend on the time of year in which the property is sold.