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What is the proper clause to pt in the divorce decree that

gives the proceeds from the...
What is the proper clause to pt in the divorce decree that gives the proceeds from the sale of property to the husband?
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Answered in 6 minutes by:
7/11/2013
Lucy, Esq.
Lucy, Esq., Lawyer
Category: Family Law
Satisfied Customers: 31,018
Experience: Attorney with experience in family law.
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Hi,

My name is XXXXX XXXXX I'd be happy to answer your questions today.

There isn't a specific term of art that has to be used - the document just needs to express what needs to happen. Any language such as "The parties are hereby ordered to work together to sell the marital home. Following the sale, any outstanding liens, costs and commissions will be paid, with any remaining funds to be paid to the Husband."

Or it could say something like. "The parties are ordered to sell the property located at ADDRESS, using a mutually agreed realtor. The parties agree to cooperate with reasonable requests from the realtor."

There could also be language that says something like:
"The parties are ordered to attempt to obtain reasonable market value for the property." It could also include the phrase "arms-length transaction," so neither spouse can sell to a friend and then buy it back.

Or, the judge could just order the wife to sign her interest in the home over to the husband, and he would then be able to sell it and keep the money. It depends on how the parties would prefer to do it and what the judge thinks is best.

If you have any questions or concerns about what I've written, please reply so that I may address them. It's important to me that you are 100% satisfied with the service I provide. Otherwise, please rate my service positively so that I get credit for answering your question. Thank you.
Lucy, Esq.
Lucy, Esq., Lawyer
Category: Family Law
Satisfied Customers: 31,018
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Customer reply replied 4 years ago

The wife is signing quick claim deeds over to husband but I was told that ther had to be verbage in the final decree. Right now there is no equity in the properties - under water situation.

There does have to be some language in the decree that states what will happen, yes. I just meant that there aren't specific legal terms that are absolutely required for the agreement to be valid. The document just has to clearly state what is going to happen. (But do note that it's called a Quit Claim deed - this is a common mistake.)

If the wife is transferring her interest, then the common language is something like:
"The wife is hereby ordered to sign a quit claim deed transferring her interest in the marital home to the husband. The husband will make all payments on the mortgage and will make reasonable efforts to sell the property or refinance the loan in his name only. After the wife transfers her interest, if the property is sold, the proceeds will be used to pay any commissions, fees, taxes, and liens on the property, with any remaining monies to be paid to the husband."
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Lucy, Esq.
Lucy, Esq.
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