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PROPERTY SECTION
YOU WILL FIND ALL THE INFORMATION UNDER THE PROPERTY SECTION ON THIS WEB PAGE.
Please scroll down this page to see the various sections.
WHAT CAN BE DONE WITH THE HOUSE?
Real estate can be dealt with in so many different ways. I won't attempt to list every possible option, therefore I am listing
what I consider to be the most common in an effort to help you begin to think about the possibilities. The possibilities are
really almost endless we will be glad to assist you in coming to a solution.
1. The parties jointly or one party individually owns real estate located at «Address_1», «City», «State» «Zip». The Wife
/Husband shall be solely responsible for and assume and pay, as the same matures the mortgage indebtedness if any on
said residence and shall indemnify and hold the other party harmless from said mortgage indebtedness. The Wife /Husband
shall convey if the property is held jointly her /his ownership interest of the real estate to the other party by appropriate
deed.
2. The Wife and Husband jointly own real estate located at «Address_1», «City», «State» «Zip». The Wife /Husband
and child(ren) shall live in the home until the first of the following occurrences:1. The spouse who is living in the home
dies. 2. The spouse who is living in the home remarries. 3. Child support is no longer payable to the spouse with physical
custody of the child(ren). 4. The spouse who is living in the home elects to move. If any of the above occurs, the real
estate shall be placed on the market and sold with the money divided, with the Wife receiving ____% and the Husband
receiving ____ %. Until such time as the real estate sells, the Wife/ Husband shall be responsible for and pay the
mortgage payment, taxes and insurance due on the realty. Until such time as the real estate sells, the Wife/ Husband shall
be responsible for providing routine maintenance and upkeep. The cost of reasonable and necessary major repairs such as
structural, heating cooling, roofing and the like, shall be paid equally (50-50) by the parties.
3. The Wife and Husband together and jointly own real estate located at «Address_1», «City», «State» «Zip». The
realty shall be placed on the market and sold, with the money divided, with _____% to the Wife and ____% to the
Husband. Before the sale, the Wife /Husband shall be responsible for and pay the mortgage payment, taxes and insurance
due on the realty. The Wife /Husband shall live there before the sale.
Time Limit Clause In the event the real estate remains unsold after ______ months from the _____ day of ___________
, 2003, either party shall have the right to obtain judicial sale upon appropriate petition.
4. The Wife and Husband together own real estate located at «Address_1», «City», «State» «Zip». The Wife /Husband
shall convey her/ his ownership of the real estate to the Wife/ Husband by appropriate deed and for that the Wife/
Husband shall pay to theWife /Husband the sum of $___ Dollars . The Wife/ Husband shall assume and pay any and all
money owed on the real estate.
WHAT CAN BE DONE WITH THE VEHICLES?
The possibilities for vehicles are more limited. I would say the most common options would be the following. 1. Title will be
transfered to one party and the party recieving title to the vehicle shall make the payments on the vehicle and hold the other
harmless from said payments. 2. One party will transfer their intrest in the vehicle to the other party free of debt. 3. One
party will transfer their intrest in the vehicle to the other party and make the payments on the vehicle for x period of time or
until the note is paid.
WHAT CAN BE DONE WITH HOUSEHOLD ITEMS?
If a party is having difficulty they may consider the following helpful. Consider making a list with a heading husband, one
that says wife and one that says property and take turns picking items and adding them to the husband and wife side and
you will probably be happier with that than what a judge would likely do. A judge will divide it how they see fit or order it
sold . Neither party may like the way the judge divides it.
WHAT ABOUT RETIREMENT PLANS?
Many options are avaliable concerning retirement plans, here are some of them. 1. In a long marriage if one party has a
retirement plan and the other does not the parties could agree on what the retirement plan is worth. The party with the plan
could pay the other party x amount of money over a certain period of time to release any claim to the retirement . 2. The
parties could agree to have a QUADRO developed to divide the retirement. A QUADRO or Qualified Domestic Relations
Order is a court order wherby the retirement is split in two and the pention agency will then send a check to each spouse
monthly for the duration of the retirement. Each pention/retirement agency usually has specific guidelines concerning what
must be in these orders. This is why we charge an additional fee to draft them. As you might imagine there can be tax
concerns with QUADROs. Please consult your tax advisor for information.
WHAT ABOUT ALIMONY?
The obligation of spouses to support each other does not necessarily terminate when they divorce. If the divorce will leave
one spouse with very little income and the other with enough to contribute to the low-income spouse's support, the court
will often award alimony, at least temporarily.
Although historically spousal maintenance was typically awarded to homemaker wives, to be paid by breadwinning
husbands, that is no longer always the case. Now, either spouse may be awarded alimony if the other has the more
substantial income and the recipient spouse's income is insufficient to support him or her at the level to which the spouses
were accustomed during the marriage.
Spousal support is often awarded in cases in which one spouse has put his or her education or career on hold in order to
raise the parties' children while the other climbed the career ladder and achieved a higher income. In such cases, the
alimony will often be temporary, providing income for the period of time that will enable the recipient spouse to become
self-supporting. This temporary, or rehabilitative, spousal support enables the spouse receiving it to further his or her
education, reestablish himself or herself in a former career, or complete childrearing responsibilities, after which time he or
she can be self-sufficient. If one spouse is unable to get a good-paying job, however, due perhaps to health or advanced
age, the support award may be permanent.
The amount and duration of alimony depends on several factors, including:
The length of the marriage;
The age of each spouse;
The health of each spouse;
The ability of each spouse to be self-supporting, including a consideration of responsibilities to the parties' minor children, if
any;
The income of the primary breadwinner; and
Standard of living the parties enjoyed during the marriage.
WHAT TO DO ABOUT DEBT?
Options avaliable for debt are more limited. The parties can agree to each pay their own debt and hold the other harmless.
One spouse can agree to pay certain debts of the other spouse within a certain period of time.
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made that the quality of legal services to be performed is greater than the quality of legal services performed by other
lawyers.This web site is designed for general information only. The information presented at this site should not be
construed to be formal legal advice nor the formation of a lawyer/client relationship.