Work With Marina Title
As you can see, transferring title after divorce in Florida can be quite tricky even if the marriage comes to a peaceful end. This is why working with skilled and experienced real estate attorneys is vital. When it comes to divorces in Florida, dividing property between the spouses can be one of the hardest parts of the process because disputes can arise surprisingly easily. However, divorcing spouses often choose to avoid disputes and focus only on what is best for both. No matter which situation you find yourself in, when transferring title after divorce in Florida, you should work with a reliable title company like Marina Title. We will work relentlessly to resolve any issue so that the transfer happens on time and there are no complications.
Call our offices today at or get in touch with our Florida title experts via email: .
Property Settlement Agreement After Divorce
A property settlement agreement after divorce is simply the part of the financial settlement reached between a divorcing couple that relates to property which needs to be separated.
In most marriages, the property which needs to be separated is the matrimonial home , but it can also include second homes or investment properties which are either jointly or individually owned.
Once a divorcing couple has agreed what to do with their assets within a property settlement agreement it is then wise to record the details in a consent order. This is a legal document, usually prepared by a solicitor, setting out what both parties have agreed.
The consent order is normally presented to court to make it legally binding when the divorce reaches the Decree Nisi stage. The consent order then becomes legally binding on both parties once the Decree Absolute has been granted.
Obtaining a consent order is the only way to finally sever your financial obligations after a divorce, providing financial certainty for both parties by ensuring any future claims are dismissed.
If You Live In California
In California, all property obtained during a marriage is considered communal, and therefore would qualify to be split evenly during divorce proceedings. However, a California appeals court ruled in 2018 that interspousal transfer deeds contained the necessary language to transmute property from communal to individual. Basically, the state upheld the validity of interspousal transfer deeds, and agreed that they effectively transfer the title of a property.
Also Check: New York State Council On Divorce Mediation
How Does A Deed Transfer Affect A Mortgage
Even if you transfer your interest in a property to the other spouse, if you and your spouse were both obligated on the mortgage, you will still maintain that obligation.
Ownership and debt are treated as two separate issues. Transferring title to a house does NOT transfer the mortgage.
Part of the resolution to this will be in the settlement agreement. If one spouse is awarded the property, that spouse may also be ordered by the court to pay the mortgage and other related house expenses, such as taxes and insurance.
In other settlements, both spouses may be obligated to share in the payment of the mortgage and expenses , or if one party is awarded the property, the other spouse may still be responsible for the mortgage and expenses.
If the other spouse is obligated to pay the mortgage as part of the settlement agreement, you can contact the lender, provide proof of the changed obligation, and see if they will release you. That isnt always the case, though. Thats because if your ex-spouse defaults on the mortgage, the lender can still take action against both of you.
You can go back to the court that granted the divorce, and even though the court cant release you from the mortgage, it can order your ex-spouse to reimburse you for paying to the lender or re-structure the property division settlement to compensate you.
An Important Point About Debt Liability
Your divorce decree doesnt affect your liability for debt. Divorce decrees are issued by the courts at the end of divorce proceedings and state the division of community property. However, your lender is not legally required to take any action as a result of your divorce agreement. This means they can still hold you and your ex-spouse liable as long as both your names are on the mortgage.
You May Like: How To Sue For Alimony
Stamp Duty Exemption Transfer Between Spouses
You can potentially save thousands of dollars in stamp duty if you read the following guidelines to get the stamp duty exemption for transfer between spouses.
If you transfer a share of your property to a former spouse or de facto partner you are NOT liable to pay stamp duty.
The transferee could also be to a child or children, or to a trustee for the child or children, of one of the parents of the relationship.
This is all under s163B of the Duties Act which provides for an exemption to stamp duty if there is a breakdown of a marriage.
Follow this very easy, step by step guide, in order to ensure that you DO NOT pay the government more money than you should.
You must ensure that the transfer of the property must be in accordance with either:
1. A Court Order made under the Family Law Act 1975, OR
2. A binding financial agreement made under the Family Law Act.
You do not need to go to court to get a binding financial agreement.
This exemption applies to both married couples and those who are in a de facto or domestic relationship.
There are a number of factors considered when determining if the parties have a relationship as a couple living in a de facto relationship.
If you require an agreement that will help you get a stamp duty exemption, please contact us now.
The Application for consent orders costs around $3,500 and can be submitted to the courts within a week.
It is normally a much better outcome than being slapped with a stamp duty bill!
Whats In The Land Registry
The land registration system contains official records of land and property in Ontario, including the:
- title, which is a legal term for the land rights held by a person or corporation
- deed, which is a term used for the legal document that transfers title from one person to another
- mortgage and other land documents.
You May Like: Do You Pay Taxes On Alimony
Getting The Deed To Your House After A Texas Divorce
As a Houston Divorce Lawyer on more than one occasion, I have had my clients think that once the Final Decree of Divorce is signed there is nothing left to do. In some cases, that may be the case. In other cases, involving certain types of property including real estate their other documents to be prepared.
These documents can be prepared and signed in conjunction with the Final Decree of Divorce. However, it is not uncommon for them to be prepared and signed at some point after the Texas divorce.
There Are Many Ways To Accomplish A Property Transfer But Two Of The Most Common Ways To Transfer Property In A Divorce Are Through An Interspousal Transfer Deed Or Quit Claim Deed
A deed is a written document that legally transfers property from one person or entity to another. Through a deed, one spouse can give his or her own property to the other, and the property becomes the receiving spouse’s separate property. There are many ways to accomplish a property transfer, but two of the most common ways to transfer property in a divorce are through an interspousal transfer deed or quit claim deed.
Also Check: Is Florida An Alimony State
How To Transfer House Title
This article was co-authored by Clinton M. Sandvick, JD, PhD. Clinton M. Sandvick worked as a civil litigator in California for over 7 years. He received his JD from the University of Wisconsin-Madison in 1998 and his PhD in American History from the University of Oregon in 2013.There are 8 references cited in this article, which can be found at the bottom of the page. This article has been viewed 127,614 times.
When you convey property to someone else, you are transferring ownership of that piece of property. You can transfer ownership of property from yourself to someone else in many ways. For example, you might sell your property, gift your property, or pass you property down after your death. To complete the conveyance, you will need to transfer title to that property to the person taking over ownership. To transfer title, you will need to prepare a deed, execute that deed, and record it.
Transfer Property To Spouse Stamp Duty
If the property is being transferred as part of a divorce settlement, there is no Stamp Duty Land Tax to pay.
It is also important to note that transfers which take place after the decree absolute may potentially be subject to inheritance tax if the transferring spouse dies within seven years of the transfer.
Don’t Miss: Do You Have To Pay Taxes On Alimony
Removing Name From Land Registry
A transfer of equity solicitor can draw up a title deed transfer that effectively transfers the property to one of the divorcing parties and removes the name of the other ex-spouse from the deeds.
Alternatively, this can be done directly with the Land Registry, which involves removing a name from the land registry using the following process:
Home Ownership In Marriage And Divorce
When two people marry in Canada, they often bring in and accumulate assets during their marriage. One party may bring in or purchase an asset or both parties may jointly purchase an asset over the course of their union. During a divorce, regardless of who bought what, the total value of the estate is divided equally between the divorcees, according to Canadian law.
This means that if two married individuals share a house together, the value will be split equally between both parties regardless of who paid for what. The process of splitting assets during divorce is quite complex. Both parties need to reach an agreement on how to transfer ownership of the shared home during the divorce proceedings. Unfortunately, this is a moment when conflicts can arise.
In general, there are four common ways to transfer ownership of your home during divorce:
- Agree to sell the property and equally divide the proceeds.
- One spouse buys the other spouses half, thereby assuming home ownership.
- Maintain joint ownership and use it as a rental property.
- Divide the property into two units where each spouse continues to occupy their designated space.
For more information on other kinds of property transfers and related fees, check out Finders guide.
You May Like: El Paso County Divorce Records
When Is A Quitclaim Deed Used
A quitclaim deed is typically used in cases that consist of a simple title transfer from one spouse to another. A quitclaim deed is generally used when one spouse transfers ownership of marital property to the other without it being sold . Further, if spouses sign a marital settlement agreement that specifies a title transfer of real property such as the marital home, they are generally exempt from having to pay realty transfer taxes upon the transfer. This is the case even if the title transfer occurs after the divore is finalized.
What Kind Of Paperwork Will I Need
To transfer ownership of your property, first visit your county recorders office to request:
- A quitclaim deed form. Youll enter the date, the value of your home for consideration and a legal description and location of your property.
- A Preliminary Change of Ownership form. The spouse who is intending to keep the home completes this form.
Recommended Reading: Divorced Parents Travel Consent Form
My Spouse Agreed To Get Off The Deed
You can use a simple form, called a quitclaim deed, to transfer your joint property ownership to either yourself, a family member, a former spouse, or even a trust. Many utilize this deed to make property title transfers without the time and expense of legal fees. In using a quitclaim deed, you are able to make the necessary legal changes, allowing you to move on to your new beginning more quickly.
Property Ownership During And After Divorce
- Property obtained during marriage is presumed to be community property, belonging to both spouses absent strict proof otherwise
- Due to community property rules, if one spouse buys a property prior to the finalization of the divorce, the other spouse may be required to join in the transaction
- A change in ownership due to divorce must be reflected in the real property records, either by filing a warranty deed of record, or the actual divorce decree, properly worded
- An agreement whereby one spouse retains sole ownership of a property must include proper owelty language to ensure future enforceability and financial flexibility
Recommended Reading: How Much Does Wife Get In Divorce
Interspousal Transfer Deed Rules
- Property can be transferred at any time: Divorce or financial hardship are usually the most common reasons to seek a transfer, but you dont need to split up or meet any other special circumstances in order to transfer property using an interspousal transfer deed.
- Taxes: Interspousal property transfers are usually not taxable, so it can be a cost-effective way to move property from one spouse to the other without having to pay gift or transfer taxes.
- Timeline: Tax exemptions for interspousal transfers end one year after a divorce is finalized. If youre going through divorce proceedings, its best to sign the interspousal transfer deed documents while youre still legally married to take advantage of the tax benefits. If you wait too long, youll be on the hook for those extra costs. But if youre married and undertaking an interspousal transfer for some other reason, theres no time limit for signing off on the transfer.
What If My Spouse Will Not Sign The Deed
This problem can be handled in one or two ways. When drafting a Final Decree of Divorce if documents need to be signed most Texas Divorce lawyers will also include specific language that requires the parties to appear at a specific place and time to sign specific documents.
If this language is included and your spouse refuses to sign the appropriate documents at the correct time and place a motion for enforcement” can be filed with the court. When one party refuses to do something that has been ordered in the Final Decree of Divorce the Judge may hold the uncooperative party to be in contempt, and assess attorney’s fees, penalties, and possible jail time against that spouse.
Another thing a good Texas Divorce Lawyer will do is draft the Final Decree of Divorce in such way as that it can serve as muniment of title. If the Final Decree of Divorce is drafted correctly and the appropriate language is placed in the decree then the Final Decree of Divorce can be filed with the county clerk and will serve as a deed transferring the property.
Whenever possible I prefer to take both steps. Getting the spouse to sign the deed is preferred but if necessary if the language is in the decree then that can get the job done.
Also Check: How Long Can Alimony Last
How To Transfer House Title After Divorce In Texas
Your divorce decree should contain proper language that clearly states which spouse is awarded legal ownership of the real property.
The divorce decree itself may operate as a muniment of title. This means that the decree alone may be sufficient to transfer the house title after your divorce. However, your divorce decree alone DOES NOT change the property records to reflect the new owner of the property.
In order to update the property records, you will need to do one of the following:
- File a property deed transferring the real estate to the person awarded the property in the divorce.OR
- File your divorce decree in the public property records to show the transfer.
What If Real Property Was Purchased During The Marriage With Only One Spouses Name On The Deed
Any real property that was purchased during the marriage is considered community property even if only one of the spouses names is on the deed. What matters is that the title to the property was acquired during the marriage.
There are some exceptions to this rule, such as, if the real property was bought with one spouses separate property, the real property will be that paying spouses separate property. During the divorce, it will be that spouses responsibility to prove that they used separate property to buy the real property.
Recommended Reading: How To Find Out If Someone Is Divorced For Free
Interspousal Transfer Deed Vs Quitclaim Deed
The main difference between an interspousal transfer deed and a quitclaim deed is that, when using a quitclaim, the spouse who is giving up their interest in the shared property may still be liable for the mortgage or other debts associated with the property.
An interspousal transfer gives full interest in the property to the transferee, whereas a quitclaim leaves the transferer still liable for any obligations related to the property, even though the transferer no longer has a residential interest in it.