Can a title company rely on a divorce decree?

If you’ve ever received a title commitment back from your title company showing a requirement related to a divorce for your client you’ve likely wondered why there are additional requirements being made on your Schedule C. In order for a title company to rely on a client’s divorce decree, the decree itself must contain some very important language.

What’s the divorce settlement for Ken and Jan?

Marital Profile: Ken and Jan have been married for five years and have no children. They both entered into the marriage with established careers, earning similar salaries. Divorce Settlement: The marital assets are split 50/50 between the spouses. There is no spousal support or child support.

How are assets divided in a divorce settlement?

Their marriage is a medium-term marriage where spousal support and an unequal division of marital property may be considered. Divorce Settlement: The marital assets are split 60/40 in Karen’s favor. There is no spousal support or child support. Joseph and Karen both have high-paying careers.

Which is an example of a divorce settlement?

The examples below are not absolute examples of what you should expect from a divorce settlement. It is however what we feel is fair when taking into consideration the short-term and long-term needs of those going through the divorce process . Marital Profile: Ken and Jan have been married for five years and have no children.

Which is an example of a divorce property settlement?

A divorce property settlement example that we have used is one of a family in Australia that has a total of $500,00 between the two of them. Jane and John have a total of $500,000 in their asset pool. This includes all bank accounts, property, and debts.

When does a divorce decree transfer the title?

A decree is not “final” (meaning we cannot rely on it) until we have passed the 30 day mark. In order for a divorce decree to actually transfer title between the spouses, the decree must include language that specifically grants the property to one spouse and divests the other spouse of any and all interest in the property.

Can a title company review a divorce decree?

The article below discusses a few scenarios that can create delays in getting to closing. Before title to a property can be changed between divorced spouses, a title company must review the divorce decree. In looking for a valid divorce decree, the company will be looking for a final, non-appealable order admitting the decree to the divorce suit.