INTERSPOUSAL GRANT DEED PDF

By Kristina Otterstrom A deed is a written document that legally transfers property from one person or entity to another. There are many ways to accomplish a property transfer, but two of the most common ways to transfer property in a divorce are through an interspousal transfer deed or quit claim deed. What is an Interspousal Transfer Deed? An "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.

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Not all states recognize interspousal transfer deeds. Among those that do, rules vary significantly, and community property laws can sometimes trump interspousal transfer deeds in court. It is commonly used whenever a spouse is added or removed from the property title, perhaps as a result of divorce settlement, or the case in which you want to add your spouse to your separate property as co-owner. Similar to a Quitclaim, But Different An interspousal transfer deed looks similar to a quitclaim deed and in many states, a quitclaim is the preferred or only document.

However, an interspousal transfer can offer some attractive tax benefits. Rules vary in different jurisdictions regarding community property and other marital property rights, so make sure that the deed complies with the formalities of your state. If in doubt, consult an attorney. Write the full names and addresses of the spouses involved in the transfer. The person giving or transferring the property ownership interest should write his or her name in the first blank space.

The person receiving the ownership interest is the "grantee. If possible, copy the legal description from your property deed. If you know only the street address, you can use this to identify the property.

However, the legal description is better as street addresses can change, while legal descriptions do not. Filing and Recording the Deed Most states require you to sign the deed in front of a notary public, and then file the deed with the Recorder of Deeds for the county where the property is located.

The deed is effective as soon as the grantor signs it.

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Not all states recognize interspousal transfer deeds. Among those that do, rules vary significantly, and community property laws can sometimes trump interspousal transfer deeds in court. It is commonly used whenever a spouse is added or removed from the property title, perhaps as a result of divorce settlement, or the case in which you want to add your spouse to your separate property as co-owner. Similar to a Quitclaim, But Different An interspousal transfer deed looks similar to a quitclaim deed and in many states, a quitclaim is the preferred or only document. However, an interspousal transfer can offer some attractive tax benefits. Rules vary in different jurisdictions regarding community property and other marital property rights, so make sure that the deed complies with the formalities of your state.

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