Let’s Look at Divorce
Every state has a government office whose primary function is to maintain permanent public records of real property. Why is this important? Let’s take a look at a typical husband and wife scenario in today’s world. Let’s say we are talking about a couple of baby boomers who have decided to divorce. Baby Boomers are divorcing at an amazing rate.
Husband & Wife Scenario
Husband and wife own a home and may have rental property as well. They get divorced. They have separated their assets through the divorce process. They have agreed that Husband will keep the primary residence and Wife will keep the rental property. Seems pretty straightforward. (For the sake of this example, we will assume both properties are of equal value.) In most cases, the attorneys will handle the divorce and then send their clients out in the world to deal with the legal separation of real property. This is a good news, bad news scenario. The good news is paying an attorney to do deed changes can get costly. The bad news is when you call your escrow/title company, they more than likely will refer you to a legal form store. It is not a great idea to tackle deed changes by yourself. Here’s some information regarding the options available to you.
What Next?
Let’s agree that you aren’t comfortable doing the deed changes yourself on a form you aren’t familiar with. In addition, you really don’t want to bother with getting it recorded. You want someone who knows what they are doing to handle it. We often see that one of the ex-spouses is more proactive in being compliant with the divorce decree. While the proactive spouse may be the one to get things going, they will need the other spouses notarized signature.
We Can Help
We provide efficient, cost-effective, and reliable concierge services to separate the legal ownership of properties. We work closely with divorce and estate planning attorneys so that these important details are handled expeditiously. With over 30 years of experience in real estate, mortgage lending, and title and escrow, we understand all the facets that impact home ownership. We are always available to answer questions and welcome an introduction to your attorney.
Quick Claim USA and their employees are not attorneys in the State of Nevada or in any other State or Jurisdiction. Quick Claim USA is not licensed to give legal advice and may not accept fees for giving legal advice. Should you have questions regarding any of the above items, you must seek the advice of independent legal/tax counsel of your choosing.
#divorce #realproperty #deeds
