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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
For a divorce agreement dating January 1, 2019 or beyond, you don’t have to report alimony payments on your federal tax return. The Bottom Line. Understanding your tax liability is important.
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.
An Estoppel Certificate (or Estoppel Letter) is a document commonly used in due diligence in real estate and mortgage activities. It is based on estoppel, the legal principle that prevents or estops someone from claiming a change in the agreement later on. [1] It is used in a variety of countries for commercial and residential transactions.
No-fault divorce is the dissolution of a marriage that does not require a showing of wrongdoing by either party. [1] [2] Laws providing for no-fault divorce allow a family court to grant a divorce in response to a petition by either party of the marriage without requiring the petitioner to provide evidence that the defendant has committed a breach of the marital contract.
There must be a clear agreement, written or oral, by both partners stipulating the extent of financial sharing or support in order for palimony to be granted. Palimony cases are determined in civil court as a contract matter rather than in family court as in cases of divorce. [4] In the State of New Jersey, palimony cases are tried in Family ...
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 ...
If you have any specific tax questions about your divorce, it’s best to work with a tax professional. Tips for Getting Through Tax Season. Divorce can easily get in the way of your retirement plans.
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