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Chris T., JD
Chris T., JD, Lawyer
Category: Family Law
Satisfied Customers: 4779
Experience:  I have assisted many customers and clients with their family law questions and I'm experienced in family law litigation.
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I am getting divorced and we signed in MSA stating she will

Customer Question

I am getting divorced and we signed in MSA stating she will do an interspousal deed transfer for the main house although she also retains an equity share as part of our MSA. She was supposed to get it done within the first 30 days but has not yet. I want to draft a document for her to sign but I am not sure I am supposed to list as no consideration or valuable consideration. Also I wanted to verify I do not need to sign the document. Let me know if there is anything else I should add. I am pasting the body of what I wrote here:
This is an Interspousal Transfer and not a change in ownership under Section 63 of the Revenue and Taxation Code, and transfer of Grantor is excluded from reappraisal as a transfer between the spouses of any co-owners interest.
There is no consideration being given for the transfer of the property.
SPOUSE NAME HERE hereby grants to GRANTEE NAME HERE the following described property in the city of Union City, County of Alameda, state of California:
Property Address: ***
Legal Description: ***
Assessor’s Parcel #: ***
Signature
Signed by: ____________________ Date: ____________________
Submitted: 1 year ago.
Category: Family Law
Expert:  Chris T., JD replied 1 year ago.
Hello. I'll be happy to assist you.
While your form meets the qualifications, I would suggest you use this form (http://ceb.com/jcforms/njdeedi.pdf) instead. It has been approved by the courts and all you need to do is fill in the blanks. But, to answer your question, there is no consideration given and you both don't need to sign, but it does need to be notarized.
I hope that answers your question. If not, feel free to ask follow up questions. If so, please remember to "Rate" my answer before you go. Good luck.
Customer: replied 1 year ago.
If I use this form, please verify the following:
1 I do not fill out the recorders use section
2 I set the documentary transfer tax fee to 0
3 I check the "is exempt from imposition...assets between spouses"
4 I check "A transfer to a spouse or former spouse..."
5 List the address under the description section
Also, do I need to file this with courts right away? I am wondering if this affects my current mortgage. Also there is another check box underneath a transfer to a spouse which also looks applicable as I want to ensure she severs any interest in the property. Should I check this as well or is that implied from the box above? I assume the latter but wanted to confirm.
Expert:  Chris T., JD replied 1 year ago.
1-5; all correct.
It will not impact your current mortgage. You should check the box underneath just so there is not a conflict within the form itself. I agree that it's implied, but you don't want there to be any doubt.