Common use of PROPERTY DIVISION Clause in Contracts

PROPERTY DIVISION. [Check and complete only one of these, either (a) or (b). Do not check both (a) and (b)] (a) The parties acknowledge that they have already made a division of their marital property, including any real estate, vehicles, household furniture, furnishings, household goods, equipment, bank accounts, pensions and other personal property. Neither party shall claim any of the property in the possession of the other party as of the date of signing this agreement. (b) The parties acknowledge that they possess various items of marital property, which shall be divided as provided in this Agreement. The parties agree to transfer possession and title to their property as follows: (1) Marital Home - The marital home of the parties, located at the following address: , which has the following legal description on the deed to the property: shall be conveyed to the in fee simple. The shall be responsible for all taxes, assessments and mortgage loan payments on the home after the date of . (A) The shall have a lien against the home in the amount of Dollars ($ ). Upon the sale or transfer of the home, the lien shall be paid. (B) The shall immediately begin making reasonable efforts to refinance the outstanding mortgage/mortgages on the marital home, so that the shall no longer be liable on the mortgage loan(s). If the is not able to refinance by , 20 , the home shall then be listed for sale at a reasonable price, and all reasonable offers to purchase the home shall be accepted. (2) Mobile Home - The parties’ mobile home, which is described as a , with Vehicle Identification Number (VIN) of shall be transferred to the . The shall be responsible for all loan payments on the mobile home after the date of . (3) Vehicles - The vehicles owned by the parties shall be transferred or retained as follows:

PROPERTY DIVISION. [Check and complete only one of these, either (a) or (b). Do not check both (a) and (b). Do not list complete account numbers.] (a) The parties acknowledge that they have already made a division of their marital property, including any real estate, vehicles, household furniture, furnishings, household goods, equipment, bank accounts, pensions pensions, and other personal property. Neither party shall claim any of the property in the possession of the other party as of the date of signing this agreement. (b) The parties acknowledge that they did not obtain any property during their marriage. (c) The parties acknowledge that they possess various items of marital property, which shall be divided as provided in this Agreement. The parties agree to transfer possession and title to their property as follows:: [If you have chosen (c), check and complete only the parts that apply, from (1) through (4) below. Cross out the parts that do not apply.] (1) Marital Home - The marital home of the parties, located at the following address: , which has the following legal description on the deed to the property: shall be conveyed to the in fee simple. The shall be responsible for all taxes, assessments and mortgage loan payments on the home after the date of _, 20 . (A) The shall have a lien against the home in the amount of Dollars ($ . ). Upon the sale or transfer of the home, the lien shall be paid. (B) The shall immediately begin making reasonable efforts to refinance the outstanding mortgage/mortgages on the marital home, so that the shall no longer be liable on the mortgage loan(s). If the is not able to refinance by , 20 , the home shall then be listed for sale at a reasonable price, and all reasonable offers to purchase the home shall be accepted. (2) Mobile Home - The parties’ mobile home, which is described as a , with Vehicle Identification Number (VIN) of shall be transferred to the . The shall be responsible for all loan payments on the mobile home after the date of .a (3) Vehicles - The vehicles owned by the parties shall be transferred or retained as follows:

PROPERTY DIVISION. [Check and complete only one of these, either (a) or (b). Do not check both (a) and (b)]]  (a) The parties acknowledge that they have already made a division of their marital property, including any real estate, vehicles, household furniture, furnishings, household goods, equipment, bank accounts, pensions and other personal property. Neither party shall claim any of the property in the possession of the other party as of the date of signing this agreement..  (b) The parties acknowledge that they possess various items of marital property, which shall be divided as provided in this Agreement. The parties agree to transfer possession and title to their property as follows: (1) Marital Home - The marital home of the parties, located at the following address: , which has the following legal description on the deed to the property: shall be conveyed to the in fee simple. The shall be responsible for all taxes, assessments and mortgage loan payments on the home after the date of . (A) The shall have a lien against the home in the amount of Dollars ($ ). Upon the sale or transfer of the home, the lien shall be paid. (B) The shall immediately begin making reasonable efforts to refinance the outstanding mortgage/mortgages on the marital home, so that the shall no longer be liable on the mortgage loan(s). If the is not able to refinance by , 20 , the home shall then be listed for sale at a reasonable price, and all reasonable offers to purchase the home shall be accepted. (2) Mobile Home - The parties’ mobile home, which is described as a , with Vehicle Identification Number (VIN) of shall be transferred to the . The shall be responsible for all loan payments on the mobile home after the date of .of (3) Vehicles - The vehicles owned by the parties shall be transferred or retained as follows:

PROPERTY DIVISION. [Check and complete only one of these, either (a) or (b). Do not check both (a) and (b)] (a) The parties acknowledge that they have already made a division of their marital property, including any real estate, vehicles, household furniture, furnishings, household goods, equipment, bank accounts, pensions and other personal property. Neither party shall claim any of the property in the possession of the other party as of the date of signing this agreement. (b) The parties acknowledge that they possess various items of marital property, which shall be divided as provided in this Agreement. The parties agree to transfer possession and title to their property as follows:: Wife Husband (1) Marital Home - The marital home of the parties, located at the following address: , which has the following legal description on the deed to the property: shall be conveyed to the in fee simple. The shall be responsible for all taxes, assessments and mortgage loan payments on the home after the date of .. G (A) The shall have a lien against the home in the amount of Dollars ($ ). Upon the sale or transfer of the home, the lien shall be paid. (B) The shall immediately begin making reasonable efforts to refinance the outstanding mortgage/mortgages on the marital home, so that the shall no longer be liable on the mortgage loan(s). If the is not able Wife Husband G to refinance by , 20 , the home shall then be listed for sale at a reasonable price, and all reasonable offers to purchase the home shall be accepted. (2) Mobile Home - The parties’ mobile home, which is described as a , with Vehicle Identification Number (VIN) of shall be transferred to the . The shall be responsible for all loan payments on the mobile home after the date of . (3) Vehicles - The vehicles owned by the parties shall be transferred or retained as follows: