PROPERTY PROVISIONS Clause Samples

PROPERTY PROVISIONS. A. The following property is awarded to Petitioner as his/her sole and separate property, along with any encumbrance thereon: B. The following property is awarded to Respondent as his/her sold and separate property, along with any encumbrance thereon: C. Petitioner shall pay the following community debts, without right to reimbursement, and shall hold Respondent harmless therefrom: Petitioner’s Initials Respondent’s Initials D. Respondent shall pay the following community debts, without right to reimbursement, and shall hold Petitioner harmless therefrom: E. The following property is ordered sold and the net proceeds after costs of sale and encumbrances are deducted, are to be divided as set forth below: F. To equalize the division of community property, the shall pay to the sum of $ , payable as follow: G. The parties shall hold equal, undivided interests in the following listed property as tenants in common: A party with sole temporary use and possession of the family home shall pay all existing encumbrances on the property without credit at the time of sale and without any right of reimbursement. The party residing in the house shall also keep the property in good repair and shall pay all repairs unless said exceed $ , in which case the sums exceeding said amount shall be paid equally by the parties. H. Other: Petitioner’s Initials Respondent’s Initials 1. PENSION/RETIREMENT BENEFITS The holder of the pension (and/or ) is ordered to pay to A. The community interest is defined as that fraction of each benefit that the pension holder is entitled to under said plan which is calculated by dividing the total number of months credited by the plan to the pension holder during the marriage before separation (which is stipulated to be months) by the total number of months the pension holder was credited by the said plan. The community interest shall be determined by using the maximum inter vivos benefit allowed to the pension holder under the plan. If the pension holder selects options which reduce the benefit, the Court shall make appropriate orders against the pension holder to restore the maximum community interest. B. Said payments are to commence at the earliest day the holder is entitled to receive periodic or lump sum benefits under the terms of the plan or as of , whichever is later. C. The name, address, Social Security number and birth date of the participant pension holder is: - - / / D. The name, address, Social Security number and birth date of the ...