We have decided who gets what and how we will divide the home equity, retirement and bills. Should this be stated in a separation agreement?? ED is used only when we want the courts to divide property right? We would use a quitclaim deed to allow me to refinance the house in only my name right?
Equitable distribution is handled both in court and out of court. If you already have an agreement on the division and distribution of the marital property, then that agreement needs to be memorialized in writing in a separation agreement and property settlement. Failure to do so may not fully resolve or finalize the marital property issues.
Yes, a quitclaim deed from your spouse to you in conjunction with a mortgage refinance is the acceptable and standard type of deed to transfer property from one spouse to another in a divorce.
Anna Ayscue
Attorney with Rosen Law Firm Cary • Chapel Hill • Durham • Raleigh • Wake Forest
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