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The general rule in § 1041(a) is that no gain or loss shall be recognized on a transfer of property from an individual to a spouse; [1] or a transfer of property to a former spouse if the transfer is incident to the divorce. This rule also applies on a transfer of property from a trust for the benefit of a spouse or former spouse if the ...
For example, when a spouse is to acquire the marital home as part of a divorce settlement, the other spouse may be able to transfer their full interest quickly and inexpensively via a quitclaim deed. [10] A quitclaim deed may also be used to transfer title of a property to a purchaser following a foreclosure auction.
Preferential hiring for spouses of veterans in government jobs; Tax-free transfer of property between spouses (including on death) and exemption from "due-on-sale" clauses. Special consideration to spouses of citizens and resident aliens; Threats against spouses of various federal employees is a federal crime
Community of Acquests and Gains: Each spouse owns an undivided half-interest in all property acquired during the marriage, except for property acquired by gift or inheritance during the marriage, which is separate property; or which traces to separate property acquired before the marriage, which remains separate property; or which is acquired during a period when the couple are permanently ...
Legal separation (sometimes judicial separation, separate maintenance, divorce a mensa et thoro, or divorce from bed-and-board) is a legal process by which a married couple may formalize a de facto separation while remaining legally married. A legal separation is granted in the form of a court order.
Divorce mediation is an alternative to traditional divorce litigation that attempts to help opposing spouses find common ground during the divorce process. [ 81 ] [ 82 ] In a divorce mediation session, a mediator facilitates the discussion between the spouses by assisting with communication and providing information and suggestions to help ...
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