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When only one spouse is on the mortgage but both are on the title, you’ll need a quitclaim deed to remove one spouse’s name from the title. Keep in mind: The spouse applying for the refinance ...
For these mortgage transfers to work, the new borrower needs to be added to the property’s deed, the deceased owner needs to be removed from the deed or a spouse relinquishing ownership must ...
The provision also prohibits a spouse from devising the property by will, if the homeowner is survived by a spouse or a minor child. If such a devise is made, it is deemed invalid, and the surviving spouse will enjoy a life estate with the remainder to the decedent's children. The surviving spouse may elect to take a 50% interest in lieu of the ...
"In some states, a spouse can file with the court a petition to claim an elective share, meaning that whatever the will states, the spouse can override that and claim an amount specified by state ...
Division of property, also known as equitable distribution, is a judicial division of property rights and obligations between spouses during divorce. It may be done by agreement, through a property settlement, or by judicial decree. Distribution of property is the division, due to a death or the dissolution of a marriage, of property which was ...
In the United States, marriage and divorce fall under the jurisdiction of state governments, not the federal government. Although such matters are usually ancillary or consequential to the dissolution of the marriage, divorce may also involve issues of spousal support, child custody, child support, distribution of property and division of debt.
In Most States, Banks Do Not Let You Remove a Spouse Without Their Consent. The vast majority of banks do not allow account holders to remove a spouse from a joint checking account without their ...
General Rule. 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 ...
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