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A Quit Claim Deed in a Divorce Situation

While it is a difficult realization to come to, a person questioning their relationship may finally come to the decision that they need a divorce.  Divorces are complicated and emotionally draining, but some marriages are just not meant to last, and filing for divorce becomes the best situation for both spouses.

When filing for divorce, a significant amount of work goes in to trying to resolve it amicably enough for both parties to be able to walk away feeling a little less bitter. That isn’t always the case though, as some can be quite angry about the terms, but there are those situations where the court determines a fair and equitable settlement that both sides can at least agree on for the most part.

If you or someone you know needs help from an experienced divorce attorney, please contact our family law team. We have helped dozens of Arizona families set up a brighter future for themselves and do our best to make sure that your divorce goes as smooth as possible. You can contact us by filling out a form online or giving us a call at (480) 467-4348.

Dividing Assets in a Divorce

Typically, the most difficult part of any divorce is splitting up assets. This includes dividing up marital property, marital debt and child custody (if children are involved).

Property, such as vacation or even the marital home, can be one of the most difficult parts to deal with. Neither side wants to leave the home and therefore deciding upon who will actually live there can be a real challenge. This is especially true if there is a great deal of equity in the home, and the one who is not able to get the home as part of the settlement is still looking to get some value out of the house.

Quit Claim Deed in Divorce Situation

A quitclaim deed is a document that allows one spouse to sell their ownership rights to a piece of property. This actually occurs after the judge has issued the divorce decree itself. However, it is quite common for one or both spouses to actually sign the quitclaim deed during the divorce proceeding but not to finalize it until after the divorce is completed.

So, what does this exactly do? A quitclaim deed is an alternative to you putting up this property for sale. In some cases, where the judge is unable to make a determination of who actually should have possession of the home, he or she may decide that the home has to be sold and that the profits be equally divided between the two spouses. This is actually quite common.

However, there are instances where the two parties decide that the sale of the property is the best remedy. This is where the quitclaim deed springs into action.

Quitclaim Deed Agreement

This deed is basically an agreement that either one party or both will sell their share in the home. If, for example, the wife is the one who will be staying in the home and the husband wants to sell his portion of the home, he can do so by technically selling his portion to his soon-to-be ex-wife. If both sides have decided that they want to sell the property, a quitclaim deed can be the best resolution to ensuring that both sides are satisfied with the final terms of the sale.

It should be noted that this agreement can be overruled by the judge. If he or she determines that one party is unfairly benefiting from the arrangement to sell the home in this way, then the judge has full authority to reverse the deed outright.

Consult With an Attorney

If you believe that a quitclaim deed could be a good resolution to dividing up the value of your home then you should contact a family law attorney. An attorney’s job is to ensure that your rights and your claim to property are being protected, and so he or she needs to fully examine any kind of documents related to a sale of this nature.

You also want to ensure that nothing can stand in the way of the judge granting the quitclaim deed. You may think that you’re making a great deal, but if the judge is not in agreement with it then you can be sure that it will be overturned. An attorney can advise you in such a way as to ensure that there will be little chance of the judge doing so.

If the judge agrees that this deed is the best way to remedy the sale of your home and your spouse is unwilling to sign the document, after the divorce decree is granted, the judge can order your ex to appear in court and sign the document or face contempt of court charges. This ensures that the document gets signed and that this problem is resolved forthwith.

 

Call the Family Law Team at (480) 467-4348 to discuss your case today.

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