CA Real Estate

California Real Estate Law Questions? Get Answers Online Now.

Ask a Lawyer,
Get an Answer ASAP!

CA Real Estate

What is a deed of dissolution with interspousal transfer

Customer Question
deed...
What is a deed of dissolution with interspousal transfer deed
Submitted: 1 year ago.Category: CA Real Estate
Ask Your Own CA Real Estate Question
Answered in 7 minutes by:
9/2/2016
Lawyer: Ray, Lawyer replied 1 year ago
Ray
Ray, Lawyer
Category: CA Real Estate
Satisfied Customers: 43,508
Experience: 30 years in civil, probate, real estate, elder law
Verified

Hi and welcome to JA. Ray here to help you today.Please bear with me a few moments while I review your question and respond.

Ask Your Own CA Real Estate Question
Lawyer: Ray, Lawyer replied 1 year ago

Here the "interspousal transfer deed" transfers title (ownership) between a married couple. A gift given by one spouse to the other during the marriage is considered "separate" (owned separately), not "marital" (mutually-owned) property. This is important because through a deed, marital property can become separate property or vice versa, which is an important distinction in a divorce.

An interspousal transfer deed can be useful when one spouse has poor credit, and the couple wants to refinance their home. To receive a better mortgage interest rate, the couple may decide to use an interspousal transfer deed to transfer title to their home to the spouse with better credit. Some other examples of circumstances where a couple might use an interspousal transfer deed include the following:

  • one spouse wants to add the other spouse to title of separate property
  • the couple wants to transfer title to property as a result of divorce settlement, and
  • where one spouse must be removed from title for financial or legal reasons.
Ask Your Own CA Real Estate Question
Lawyer: Ray, Lawyer replied 1 year ago

Deed of dissolution is usually used where a partnership is dissolved and one partner takes over the assets and liabilities of a partnership.

Sample

Deed Of Dissolution

THIS DEED made at …………….. this ………… day of …………., 2000, between A, son of ………………………………. resident of ………………………………………………. hereinafter referred to as retiring partner, of the ONE PART and B, son of ………………………. resident of …………………………. hereinafter referred to as continuing partner of the OTHER PART.

WHEREAS the parties hereto were doing the business of ………………. at …………………………. under the name and style of M/s. …………………………………………………. in terms of Deed of Partnership dated …………………………

AND WHEREAS on account of disputes and differences arising between them, the parties have decided to dissolve the partnership on the terms and conditions hereinafter appearing.

WITNESSETH AS FOLLOWS:

(1) The parties hereto hereby dissolve the partnership subsisting between them under the Deed of Partnership dated …………………. with effect from …………………

(2) The assets and liabilities of the partnership have been assessed and the final balance sheet and profit and loss account have been taken and both the parties have seen the said accounts and are satisfied about its correctness.

(3) The continuing partner has paid to the retiring partner a sum of Rs. ……………… (the receipt whereof the retiring partner hereby acknowledges) as consideration of the share and interest of the retiring partner in the assets, stock-in-trade, goodwill and tenancy rights of the firm.

(4) The retiring partner as beneficial owner hereby assigns and releases unto the continuing partner ALL THAT the one-half share and interest of and in the business and stock-in-trade, assets and other personal chattels including the goodwill thereof TO HOLD the same unto the continuing partner absolutely for ever.

(5) The continuing partner hereby covenants with the retiring partner that he shall discharge all the debts, liabilities and obligations of the partnership and will at all times hereafter keep the retiring partner indemnified against the said debts, liabilities and obligations and from all actions, proceedings, costs, claims and demands in respect thereof.

(6) The retiring partner hereby covenants with the continuing partner that he shall not engage himself directly or indirectly in the business of ………………………….. for a period of ………………………. years from the date of dissolution of the partnership.

(7) The retiring partner hereby releases the continuing partner and the continuing partner hereby releases the retiring partner from all actions, accounts, claims and demands in relation to the said partnership and from all the covenants and agreements contained in the said Deed of Partnership.

(8) The continuing partner hereby agrees and undertakes that he shall notify the dissolution of the partnership to the Registrar of Firms ……………………………… and also in the ………………… Government Gazette and in two newspapers within ………………… days from the date of execution hereof.

IN WITNESS WHEREOF the parties have hereunto set their hands, the day and year first hereinabove written.

Signed and delivered by the within named A

Signed and delivered by the within named B

WITNESSES;

1.

Ask Your Own CA Real Estate Question
Lawyer: Ray, Lawyer replied 1 year ago

The dissolution of partnership deed covers

  • the date on which the partnership will cease trading and be dissolved and how it will be wound up
  • what the partners can and cannot do from the date of dissolution until the partnership is wound up
  • the return of documents, the realisation of the partnership's assets and the termination of contracts and other arrangements
  • the discharge of the partnership's liabilities
  • the preparation and approval of the partnership's final set of accounts
  • the distribution of any partnership monies after the liabilities have been discharged
  • the retention of records
  • the notification of the dissolution
Ask Your Own CA Real Estate Question
Lawyer: Ray, Lawyer replied 1 year ago

Usually interspousal transfer deed to transfer property within the marriage, the dissolution of partnership deed is used to dissolve a partnership of two unmarried individuals where one of them keeps the assets and the debts and other party gets out by singing the deed.

I appreciate the chance to help you tonight.Please let me know if you have more follow up.

Ask Your Own CA Real Estate Question
Lawyer: Ray, Lawyer replied 1 year ago

If you can rate 5 stars when we are done it is always much appreciated, thanks for letting me help you today.

Ask Your Own CA Real Estate Question
Ask Ray Your Own Question
Ray
Ray
Ray, Lawyer
Category: CA Real Estate
Satisfied Customers: 43,508
43,508 Satisfied Customers
Experience: 30 years in civil, probate, real estate, elder law

Ray is online now

A new question is answered every 9 seconds

How JustAnswer works:

  • Ask an ExpertExperts are full of valuable knowledge and are ready to help with any question. Credentials confirmed by a Fortune 500 verification firm.
  • Get a Professional AnswerVia email, text message, or notification as you wait on our site. Ask follow up questions if you need to.
  • 100% Satisfaction GuaranteeRate the answer you receive.

JustAnswer in the News:

Ask-a-doc Web sites: If you've got a quick question, you can try to get an answer from sites that say they have various specialists on hand to give quick answers... Justanswer.com.
JustAnswer.com...has seen a spike since October in legal questions from readers about layoffs, unemployment and severance.
Web sites like justanswer.com/legal
...leave nothing to chance.
Traffic on JustAnswer rose 14 percent...and had nearly 400,000 page views in 30 days...inquiries related to stress, high blood pressure, drinking and heart pain jumped 33 percent.
Tory Johnson, GMA Workplace Contributor, discusses work-from-home jobs, such as JustAnswer in which verified Experts answer people’s questions.
I will tell you that...the things you have to go through to be an Expert are quite rigorous.

What Customers are Saying:

Mr. Kaplun clearly had an exceptional understanding of the issue and was able to explain it concisely. I would recommend JustAnswer to anyone. Great service that lives up to its promises!

Gary B.Edmond, OK

My Expert was fast and seemed to have the answer to my taser question at the tips of her fingers. Communication was excellent. I left feeling confident in her answer.

EricRedwood City, CA

I am very pleased with JustAnswer as a place to go for divorce or criminal law knowledge and insight.

MichaelWichita, KS

PaulMJD helped me with questions I had regarding an urgent legal matter. His answers were excellent.

Three H.Houston, TX

Anne was extremely helpful. Her information put me in the right direction for action that kept me legal, possible saving me a ton of money in the future. Thank you again, Anne!!

ElaineAtlanta, GA

It worked great. I had the facts and I presented them to my ex-landlord and she folded and returned my deposit. The 50 bucks I spent with you solved my problem.

TonyApopka, FL

Wonderful service, prompt, efficient, and accurate. Couldn't have asked for more. I cannot thank you enough for your help.

Mary C.Freshfield, Liverpool, UK

< Previous | Next >

Meet the Experts:

LawTalk

LawTalk

Attorney

188 satisfied customers

I have nearly three decades of legal experience, including Real Estate Law, and have held a Real Estate Broker's License.

CalAttorney2

CalAttorney2

Attorney

291 satisfied customers

I have experience representing HOAs, homeowners, businesses, and other individuals in real estate matters.

legalgems

legalgems

attorney

108 satisfied customers

Just Answer consultant at Self employed

Richard Price, Esq

Richard Price, Esq

Attorney

59 satisfied customers

Attorney at The Law Office of Richard Samuel Price

N Cal Atty

N Cal Atty

Attorney

21 satisfied customers

attorney at self

Attorney2020

Attorney2020

Lawyer

23 satisfied customers

I have significant experience in real estate law.

Tina

Tina

Lawyer

8,775 satisfied customers

JD, BBA Over 25 years legal and business experience.

< Previous | Next >

Related CA Real Estate Questions
What remedies do homeowners have is a builder/developer fail
What remedies do homeowners have is a builder/developer fail to disclose the full CC&Rs or other important documents required by the David Sterilings act?It has happened to quite a number of buyers in… read more
PaulmoJD
PaulmoJD
Attorney At Law
Doctoral Degree
106 satisfied customers
Had a tennant for 3 years. I asked her if she would move out
Had a tennant for 3 years. I asked her if she would move out her things as she had moved physically to a new address 8 months ago. She said she would have everything out by Nov 1. She took a few days … read more
legalgems
legalgems
attorney
Juris Doctorate
108 satisfied customers
My commercial tenant is still a problem. One of the issues
Hi,My commercial tenant is still a problem.One of the issues is that his father is an attorney.At this time his father has advanced him over $400,000 in legal fees without paying him back.Is an attorn… read more
Roy Hadavi
Roy Hadavi
Attorney
Juris Doctorate
896 satisfied customers
This is a question for a Lawyer specializing in California
This is a question for a Lawyer specializing in California EDD regulations. My business is a corporation in California 10 + years. It does not have permanent employees. Undertakes work on as needed ba… read more
PaulmoJD
PaulmoJD
Attorney At Law
Doctoral Degree
106 satisfied customers
If judge ordered private mediation in case management order,
If judge ordered private mediation in case management order, can plaintiff request it be completed before discovery begins?… read more
legalgems
legalgems
attorney
Juris Doctorate
108 satisfied customers
In a civil court case that has been referred to private
In a civil court case that has been referred to private mediation by judge and where Case Management Order requires that "before a discovery motion is filed a conference with the judge is required in … read more
legalgems
legalgems
attorney
Juris Doctorate
108 satisfied customers
Where can I find information on Real estate properties that
Hello,Where can I find information on Real estate properties that are scheduled to be sold in a foreclosure or tax deed sale in Sunnyvale, CA?… read more
legalgems
legalgems
attorney
Juris Doctorate
108 satisfied customers
My home owners association sent my account to a collection
My home owners association sent my account to a collection agency which is charging me $ 3000 dollars. I have been paying my association fees all year but a check had bounced without my knowledge, I t… read more
INFOLAWYER
INFOLAWYER
Partner
Doctoral Degree
55,474 satisfied customers
Since the Regents of the University of California have
Since the Regents of the University of California have sovereign immunity, does that immunity extend downward to all employees? I understand that with police, that is the case. But does it also cover … read more
N Cal Atty
N Cal Atty
Attorney
JD
21 satisfied customers
I have been leasing my condo to two individuals in
I have been leasing my condo to two individuals in California. It was a fixed term lease that is now month to month. I received notice today that one of the two tenants wishes to leave. The other tena… read more
legalgems
legalgems
attorney
Juris Doctorate
108 satisfied customers
My mother-in-law owns a house in northern California that we
My mother-in-law owns a house in northern California that we plan to put up for sale. She is now living in Virginia near us due to health reasons. We just completed a major remodeling project at the m… read more
Roy Hadavi
Roy Hadavi
Attorney
Juris Doctorate
896 satisfied customers
California Constitutional Law:. 1. How was it legal for the
California Constitutional Law: . 1. How was it legal for the California legislature to amend its constitution to bestow 'sovereignty' on the corporation of the Regents of the University of California?… read more
N Cal Atty
N Cal Atty
Attorney
JD
21 satisfied customers
FRCP 15: Does this mean that in response to a motion to
FRCP 15: Does this mean that in response to a motion to dismiss (following a complaint) that you can file the first amended complaint without leave of court? Then look at E.D. California - local rule … read more
N Cal Atty
N Cal Atty
Attorney
JD
21 satisfied customers
If a severely physically disabled person is abused in a
If a severely physically disabled person is abused in a hospital emergency room (not a nursing home) can they file under the elder abuse statute?… read more
N Cal Atty
N Cal Atty
Attorney
JD
21 satisfied customers
The opposite attorney going to submit to a court order for
the opposite attorney going to submit to a court order for selling my property in coming court hearing, what can I do? … read more
LegalKnowledge
LegalKnowledge
Juris Doctor
27,495 satisfied customers
My house is in San Francisco, CA. I want to build a small
My house is in San Francisco, CA. I want to build a small exit room over the stairway that exits on my roof. How big may I make that room. … read more
N Cal Atty
N Cal Atty
Attorney
JD
21 satisfied customers
Civil Case. Is there a difference between a; Courts Ruling,
Civil Case. Is there a difference between a; Courts Ruling, and a Court decision, and a Court Judgment? If there is please explain.… read more
Roy Hadavi
Roy Hadavi
Attorney
Juris Doctorate
896 satisfied customers
If a signed Judgment does not recite exactly what is
If a signed Judgment does not recite exactly what is stipulated by the Judge in the court transcript, is there a statute of limitation as to when the signed Judgment can be corrected by the court?… read more
Roy Hadavi
Roy Hadavi
Attorney
Juris Doctorate
896 satisfied customers

DISCLAIMER: Answers from Experts on JustAnswer are not substitutes for the advice of an attorney. JustAnswer is a public forum and questions and responses are not private or confidential or protected by the attorney-client privilege. The Expert above is not your attorney, and the response above is not legal advice. You should not read this response to propose specific action or address specific circumstances, but only to give you a sense of general principles of law that might affect the situation you describe. Application of these general principles to particular circumstances must be done by a lawyer who has spoken with you in confidence, learned all relevant information, and explored various options. Before acting on these general principles, you should hire a lawyer licensed to practice law in the jurisdiction to which your question pertains.

The responses above are from individual Experts, not JustAnswer. The site and services are provided “as is”. To view the verified credential of an Expert, click on the “Verified” symbol in the Expert’s profile. This site is not for emergency questions which should be directed immediately by telephone or in-person to qualified professionals. Please carefully read the Terms of Service (last updated February 8, 2012).

DISCLAIMER: Answers from Experts on JustAnswer are not substitutes for the advice of an attorney. JustAnswer is a public forum and questions and responses are not private or confidential or protected by the attorney-client privilege. The Expert above is not your attorney, and the response above is not legal advice. You should not read this response to propose specific action or address specific circumstances, but only to give you a sense of general principles of law that might affect the situation you describe. Application of these general principles to particular circumstances must be done by a lawyer who has spoken with you in confidence, learned all relevant information, and explored various options. Before acting on these general principles, you should hire a lawyer licensed to practice law in the jurisdiction to which your question pertains.

The responses above are from individual Experts, not JustAnswer. The site and services are provided “as is”. To view the verified credential of an Expert, click on the “Verified” symbol in the Expert’s profile. This site is not for emergency questions which should be directed immediately by telephone or in-person to qualified professionals. Please carefully read the Terms of Service (last updated February 8, 2012).

Show MoreShow Less

Ask Your Question

x