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My divorce took a turn when my spouse demanded half the value of our apartment — the problem was we didn’t actually own it Victoria Vesovski November 23, 2024 at 3:44 AM
This can be done either through agreement, in an amicable divorce, or by court order, in a contested proceeding. At the end of a divorce, both parties are strangers from a legal standpoint. They ...
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 ...
A joint tenancy or joint tenancy with right of survivorship (JTWROS) is a type of concurrent estate in which co-owners have a right of survivorship, meaning that if one owner dies, that owner's interest in the property will pass to the surviving owner or owners by operation of law, and avoiding probate. The deceased owner's interest in the ...
The division of that equity during divorce typically depends on various factors, including any prenuptial or postnuptial agreements, state laws and the couple’s specific circumstances.
The Uniform Premarital Agreement Act (UPAA) is a Uniform Act governing prenuptial agreements, which are also properly referred to as "premarital agreements" and "antenuptial agreements". [1] It was drafted by the National Conference of Commissioners on Uniform State Laws in 1983 to promote more uniformity and predictability between state laws ...
The rule against perpetuities serves a number of purposes. First, English courts have long recognized that allowing owners to attach long-lasting contingencies to their property harms the ability of future generations to freely buy and sell the property, since few people would be willing to buy property that had unresolved issues regarding its ownership hanging over it.
Whether you sell the home as part of the divorce agreement or buy out your spouse’s share, capital gains taxes could come into play. This is a tax on the sale of assets, such as a home, when the ...
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