Common use of PROPERTY DIVISION Clause in Contracts

PROPERTY DIVISION. [Check and complete only one of these, either (a) or (b). Do not check both (a) and (b)] (a) The parties acknowledge that they have already made a division of their marital property, including any real estate, vehicles, household furniture, furnishings, household goods, equipment, bank accounts, pensions and other personal property. Neither party shall claim any of the property in the possession of the other party as of the date of signing this agreement. (b) The parties acknowledge that they did not obtain any property during their marriage. (c) The parties acknowledge that they possess various items of marital property, which shall be divided as provided in this Agreement. The parties agree to transfer possession and title to their property as follows: [If you have chosen (c), check and complete only the parts that apply, from (1) through (4) below. Cross out the parts that do not apply.] □ (1) Marital Home - The marital home of the parties, located at the following address: shall be conveyed to the (Plaintiff or Defendant) in fee simple. The (Plaintiff or Defendant) shall be responsible for all taxes, assessments and mortgage loan payments on the home after the date of . □ (A) The (Plaintiff or Defendant) shall have a lien against the home in the amount of Dollars ($ ). Upon the sale or transfer of the home, the lien shall be paid. □ (B) The (Plaintiff or Defendant) shall immediately begin making reasonable efforts to refinance the outstanding mortgage/mortgages on the marital home, so that the (Plaintiff or Defendant) shall no longer be liable on the mortgage loan(s). If the (Plaintiff or Defendant) is not able to refinance by , 20 , the home shall then be listed for sale at a reasonable price, and all reasonable offers to purchase the home shall be accepted. □ (2) Mobile Home - The parties= mobile home, which is described as a , with Vehicle Identification Number (VIN) of shall be transferred to the (Plaintiff or Defendant) . The (Plaintiff or Defendant) shall be responsible for all loan payments on the mobile home after the date of . □ (3) Vehicles - The vehicles owned by the parties shall be transferred or retained as follows:

PROPERTY DIVISION. [Check and complete only one of these, either (a) or (b). Do not check both (a) and (b). Do not list complete account numbers.] (a) The parties acknowledge that they have already made a division of their marital property, including any real estate, vehicles, household furniture, furnishings, household goods, equipment, bank accounts, pensions and other personal property. Neither party shall claim any of the property in the possession of the other party as of the date of signing this agreement. (b) The parties acknowledge that they did not obtain any property during their marriage. (c) The parties acknowledge that they possess various items of marital property, which shall be divided as provided in this Agreement. The parties agree to transfer possession and title to their property as follows: [If you have chosen (c), check and complete only the parts that apply, from (1) through (4) below. Cross out the parts that do not apply.] □ ] (1) Marital Home - The marital home of the parties, located at the following address: shall be conveyed ☐ The legal description is included on the deed which is attached to this Agreement as “Exhibit A” Person obtaining all rights to the property (Plaintiff or Defendant) “Grantee”): The Grantor conveys the above-referenced property to the Grantee in fee simple. The (Plaintiff or Defendant) Grantee shall be responsible for all taxes, assessments and mortgage loan payments on the home after the date of the datethis Agreement is signed by both parties. □ Plaintiff’s Initials Defendant’s Initials (A) The (Plaintiff or Defendant) Grantor shall have a lien against the home in the amount of Dollars ($ )home. Upon the sale or transfer of the home, the lien shall be paid. □ . (B) The (Plaintiff or Defendant) Grantee shall immediately begin making reasonable efforts to refinance the outstanding mortgage/mortgages on the marital home, so that the (Plaintiff or Defendant) Grantor shall no longer be liable on the mortgage loan(s). If the (Plaintiff or Defendant) Grantee is not able to refinance the home by the deadline listed below, 20 , then the home shall then be listed for sale at a reasonable price, and all reasonable offers to purchase the home shall be accepted. □ ☐ (2C) Mobile Home - The parties= mobile Other agreement(s) concerning the marital home, which is described as a , with Vehicle Identification Number (VIN) of shall be transferred to the (Plaintiff or Defendant) . The (Plaintiff or Defendant) shall be responsible for all loan payments on the mobile home after the date of . □ (3) Vehicles - The vehicles owned by the parties shall be transferred or retained as follows:

PROPERTY DIVISION. [Check and complete only one of these, either (a) or (b). Do not check both (a) and (b)] (a) The parties acknowledge that they have already made a division of their marital property, including any real estate, vehicles, household furniture, furnishings, household goods, equipment, bank accounts, pensions and other personal property. Neither party shall claim any of the property in the possession of the other party as of the date of signing this agreement. (b) The parties acknowledge that they did not obtain any property during their marriage. (c) The parties acknowledge that they possess various items of marital property, which shall be divided as provided in this Agreement. The parties agree to transfer possession and title to their property as follows: [If you have chosen (c), check and complete only the parts that apply, from (1) through (4) below. Cross out the parts that do not apply.] □ : (1) Marital Home - The marital home of the parties, located at the following address: shall be conveyed to the (Plaintiff or Defendant) in fee simple. The (Plaintiff or Defendant) shall be responsible for all taxes, assessments and mortgage loan payments on the home after the date of . □ . (A) The (Plaintiff or Defendant) shall have a lien against the home in the amount of Dollars ($ ). Upon the sale or transfer of the home, the lien shall be paid. □ (B) The (Plaintiff or Defendant) shall immediately begin making reasonable efforts to refinance the outstanding mortgage/mortgages on the marital home, so that the (Plaintiff or Defendant) shall no longer be liable on the mortgage loan(s). If the (Plaintiff or Defendant) is not able to refinance by , 20 , the home shall then be listed for sale at a reasonable price, and all reasonable offers to purchase the home shall be accepted. □ (2) Mobile Home - The parties= mobile home, which is described as a , with Vehicle Identification Number (VIN) of shall be transferred to the (Plaintiff or Defendant) . The (Plaintiff or Defendant) shall be responsible for all loan payments on the mobile home after the date of . □ (3) Vehicles - The vehicles owned by the parties shall be transferred or retained as follows:.

PROPERTY DIVISION. [Check and complete only one of these, either (a) or (b). Do not check both (a) and (b). Do not list complete account numbers.] (a) The parties acknowledge that they have already made a division of their marital property, including any real estate, vehicles, household furniture, furnishings, household goods, equipment, bank accounts, pensions and other personal property. Neither party shall claim any of the property in the possession of the other party as of the date of signing this agreement. (b) The parties acknowledge that they did not obtain any property during their marriage. (c) The parties acknowledge that they possess various items of marital property, which shall be divided as provided in this Agreement. The parties agree to transfer possession and title to their property as follows: [If you have chosen (c), check and complete only the parts that apply, from (1) through (4) below. Cross out the parts that do not apply.] □ ] (1) Marital Home - The marital home of the parties, located at the following address: which has the following legal description on the deed to the property: shall be conveyed to the (Plaintiff indicate Petitioner or DefendantRespondent) in fee simple. The (Plaintiff indicate Petitioner or DefendantRespondent) shall be responsible for all taxes, assessments and mortgage loan payments on the home after the date of . □ [If you have chosen and completed the preceding paragraph (1), concerning a marital home, you may also check and complete (A) or (B), or both (A) and (B), but neither one is required.] (A) The (Plaintiff indicate Petitioner or DefendantRespondent) shall have a lien against the home in the amount of Dollars ($ ). Upon the sale or transfer of the home, the lien shall be paid. □ . (B) The (Plaintiff indicate Petitioner or DefendantRespondent) shall immediately begin making reasonable efforts to refinance the outstanding mortgage/mortgages on the marital home, so that the (Plaintiff indicate Petitioner or DefendantRespondent) shall no longer be liable on the mortgage loan(s). If the (Plaintiff indicate Petitioner or DefendantRespondent) is not able to refinance by , 20 (date) , the home shall then be listed for sale at a reasonable price, and all reasonable offers to purchase the home shall be accepted. □ . (2) Mobile Home - The parties= parties’ mobile home, which is described as a (model and year) , with Vehicle Identification Number (VIN) of shall be transferred to the (Plaintiff indicate Petitioner or DefendantRespondent) . The (Plaintiff indicate Petitioner or DefendantRespondent) shall be responsible for all loan payments on the mobile home after the date of . □ . (3) Vehicles - The vehicles owned by the parties shall be transferred or retained as follows:

PROPERTY DIVISION. [Check and complete only one of these, either (a) or (b). Do not check both (a) and (b)] (a) The parties acknowledge that they have already made a division of their marital property, including any real estate, vehicles, household furniture, furnishings, household goods, equipment, bank accounts, pensions and other personal property. Neither party shall claim any of the property in the possession of the other party as of the date of signing this agreement. (b) The parties acknowledge that they did not obtain any property during their marriage. (c) The parties acknowledge that they possess various items of marital property, which shall be divided as provided in this Agreement. The parties agree to transfer possession and title to their property as follows: [If you have chosen (cb), check and complete only the parts that apply, from (1) through (4) below. Cross out the parts that do not apply.] □ ] G (1) Marital Home - The marital home of the parties, located at the following address: , shall be conveyed to the (Plaintiff or Defendant) in fee simple. The (Plaintiff or Defendant) legal description of the property appears on the deed, a copy of which is attached to this Settlement Agreement. The shall be responsible for all taxes, assessments and mortgage loan payments on the home after the date of . □ [If you have chosen and completed the preceding paragraph (1), concerning a marital home, you must attach a copy of the property deed to this agreement. (A) The (Plaintiff or Defendant) shall have a lien against protected interest in the home in the amount of Dollars ($ ). Upon the sale or transfer of the home, the lien protected interest shall be paid. □ . (B) The (Plaintiff or Defendant) shall immediately begin making reasonable efforts to refinance the outstanding mortgage/mortgages on the marital home, so that the (Plaintiff or Defendant) shall no longer be liable on the mortgage loan(s). If the (Plaintiff or Defendant) is not able to refinance by , 20 , the home shall then be listed for sale at a reasonable price, and all reasonable offers to purchase the home shall be accepted. □ . G (2) Mobile Home - The parties= mobile home, which is described as a , with Vehicle Identification Number (VIN) of shall be transferred to the (Plaintiff or Defendant) . The (Plaintiff or Defendant) shall be responsible for all loan payments on the mobile home after the date of . □ (3) Vehicles - The vehicles owned by the parties shall be transferred or retained as follows:

PROPERTY DIVISION. [Check and complete only one of these, either (a) or (b). Do not check both (a) and (b)]] 🞎 (a) The parties acknowledge that they have already made a division of their marital property, including any real estate, vehicles, household furniture, furnishings, household goods, equipment, bank accounts, pensions and other personal property. Neither party shall claim any of the property in the possession of the other party as of the date of signing this agreement.. 🞎 (b) The parties acknowledge that they did not obtain any property during their marriage. (c) The parties acknowledge that they possess various items of marital property, which shall be divided as provided in this Agreement. The parties agree to transfer possession and title to their property as follows: [If you have chosen (cb), check and complete only the parts that apply, from (1) through (4) below. Cross out the parts that do not apply.] □ apply 🞎 (1) Marital Home - The marital home of the parties, located at the following address: , shall be conveyed to the (Plaintiff or Defendant) in fee simple. The (Plaintiff or Defendant) legal description of the property appears on the deed, a copy of which is attached to this Settlement Agreement. The shall be responsible for all taxes, assessments and mortgage loan payments on the home after the date of . □ [If you have chosen and completed the preceding paragraph (1), concerning a marital home, you must attach a copy of the property deed to this agreement. (A) The (Plaintiff or Defendant) shall have a lien against protected interest in the home in the amount of Dollars ($ ). Upon the sale or transfer of the home, the lien protected interest shall be paid. □ . (B) The (Plaintiff or Defendant) shall immediately begin making reasonable efforts to refinance the outstanding mortgage/mortgages on the marital home, so that the (Plaintiff or Defendant) shall no longer be liable on the mortgage loan(s). If the (Plaintiff or Defendant) is not able to refinance by , 20 , the home shall then be listed for sale at a reasonable price, and all reasonable offers to purchase the home shall be accepted. □ (2) Mobile Home - The parties= mobile home, which is described as a , with Vehicle Identification Number (VIN) of shall be transferred to the (Plaintiff or Defendant) . The (Plaintiff or Defendant) shall be responsible for all loan payments on the mobile home after the date of . □ (3) Vehicles - The vehicles owned by the parties shall be transferred or retained as follows:.

PROPERTY DIVISION. [Check and complete only one of these, either (a) or (b) or (c). Do not check both (a), (b) and (bc)] (a) The parties acknowledge that they have already made a division of their marital property, including any real estate, vehicles, household furniture, furnishings, household goods, equipment, bank accounts, pensions and other personal property. Neither party shall claim any of the property in the possession of the other party as of the date of signing this agreement. (b) The parties acknowledge that they did not obtain any property during their marriage. (c) The parties acknowledge that they possess various items of marital property, which shall be divided as provided in this Agreement. The parties agree to transfer possession and title to their property as follows: [If you have chosen (c), check and complete only the parts that apply, from (1) through (4) below. Cross out the parts that do not apply.] : □ (1) Marital Home - The marital home of the parties, located at the following address: [SEE THE NEXT PAGE FOR LEGAL DESCRIPTION] shall be conveyed to the (Plaintiff or Defendant) in fee simple. The (Plaintiff or Defendant) shall be responsible for all taxes, assessments and mortgage loan payments on the home after the date of . □ (A) The (Plaintiff or Defendant) shall have a lien against the home in the amount of Dollars ($ ). Upon the sale or transfer of the home, the lien shall be paid. □ (B) The (Plaintiff or Defendant) shall immediately begin making reasonable efforts to refinance the outstanding mortgage/mortgages on the marital home, so that the (Plaintiff or Defendant) shall no longer be liable on the mortgage loan(s). If the (Plaintiff or Defendant) is not able to refinance by , 20 , the home shall then be listed for sale at a reasonable price, and all reasonable offers to purchase the home shall be accepted. □ (2) Mobile Home - The parties= mobile home, which is described as a , with Vehicle Identification Number (VIN) of shall be transferred to the (Plaintiff or Defendant) . The (Plaintiff or Defendant) shall be responsible for all loan payments on the mobile home after the date of . □ (3) Vehicles - The vehicles owned by the parties shall be transferred or retained as follows:.

PROPERTY DIVISION. [Check and complete only one of these, either (a) or (b). Do not check both (a) and (b). Do not list complete account numbers.] (a) The parties acknowledge that they have already made a division of their marital property, including any real estate, vehicles, household furniture, furnishings, household goods, equipment, bank accounts, pensions and other personal property. Neither party shall claim any of the property in the possession of the other party as of the date of signing this agreement. (b) The parties acknowledge that they did not obtain any property during their marriage. (c) The parties acknowledge that they possess various items of marital property, which shall be divided as provided in this Agreement. The parties agree to transfer possession and title to their property as follows: [If you have chosen (c), check and complete only the parts that apply, from (1) through (4) below. Cross out the parts that do not apply.] □ ] (1) Marital Home - The marital home of the parties, located at the following address: shall be conveyed ☐ The legal description is included on the deed which is attached to this Agreement as Exhibit A Person obtaining all rights to the property (Plaintiff or Defendant) “Grantee”): The Grantor conveys the above-referenced property to the Grantee in fee simple. The (Plaintiff or Defendant) Grantee shall be responsible for all taxes, assessments and mortgage loan payments on the home after the date of . □ the datethis Agreement is signed by both parties. (A) The (Plaintiff or Defendant) Grantor shall have a lien against the home in the amount of Dollars ($ )home. Upon the sale or transfer of the home, the lien shall be paid. □ . (B) The (Plaintiff or Defendant) Grantee shall immediately begin making reasonable efforts to refinance the outstanding mortgage/mortgages on the marital home, so that the (Plaintiff or Defendant) Grantor shall no longer be liable on the mortgage loan(s). If the (Plaintiff or Defendant) Grantee is not able to refinance the home by the deadline listed below, 20 , then the home shall then be listed for sale at a reasonable price, and all reasonable offers to purchase the home shall be accepted. □ (2) Mobile Home - The parties= mobile home, which is described as a , with Vehicle Identification Number (VIN) of shall be transferred to the (Plaintiff or Defendant) . The (Plaintiff or Defendant) shall be responsible for all loan payments on the mobile home after the date of . □ (3) Vehicles - The vehicles owned by the parties shall be transferred or retained as follows:.

PROPERTY DIVISION. [Check and complete only one of these, either (a) or (b). Do not check both (a) and (b)] (a) The parties acknowledge that they have already made a division of their marital property, including any real estate, vehicles, household furniture, furnishings, household goods, equipment, bank accounts, pensions and other personal property. Neither party shall claim any of the property in the possession of the other party as of the date of signing this agreement. (b) The parties acknowledge that they did not obtain any property during their marriage. (c) The parties acknowledge that they possess various items of marital property, which shall be divided as provided in this Agreement. The parties agree to transfer possession and title to their property as follows: [If you have chosen (c), check and complete only the parts that apply, from (1) through (4) below. Cross out the parts that do not apply.] □ ] G (1) Marital Home - The marital home of the parties, located at the following address: shall be conveyed to the (Plaintiff or Defendant) in fee simple. The (Plaintiff or Defendant) shall be responsible for all taxes, assessments and mortgage loan payments on the home after the date of . □ G (A) The (Plaintiff or Defendant) shall have a lien against the home in the amount of Dollars ($ ). Upon the sale or transfer of the home, the lien shall be paid. □ G (B) The (Plaintiff or Defendant) shall immediately begin making reasonable efforts to refinance the outstanding mortgage/mortgages on the marital home, so that the (Plaintiff or Defendant) shall no longer be liable on the mortgage loan(s). If the (Plaintiff or Defendant) is not able to refinance by , 20 , the home shall then be listed for sale at a reasonable price, and all reasonable offers to purchase the home shall be accepted. □ . G (2) Mobile Home - The parties= parties’ mobile home, which is described as a , with Vehicle Identification Number (VIN) of shall be transferred to the (Plaintiff or Defendant) . The (Plaintiff or Defendant) shall be responsible for all loan payments on the mobile home after the date of . □ . G (3) Vehicles - The vehicles owned by the parties shall be transferred or retained as follows: