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What is a property agreement between spouses and how does it impact the division of assets in the event of a divorce?
A property agreement between spouses is a legal document that outlines how assets and debts will be divided in the event of a divorce. It can impact the division of assets by specifying which assets are considered separate or marital property, and how they will be distributed between the spouses. This agreement can help clarify ownership rights and prevent disputes during the divorce process.
What is a PTA instrument in property sales?
A PTA (Property Transfer Agreement) instrument in property sales is a legal document that outlines the terms and conditions for transferring ownership of a property from one party to another. It typically includes details such as the purchase price, payment terms, and any contingencies involved in the sale. The PTA serves to protect the interests of both the buyer and seller during the transaction process, ensuring that all parties understand their rights and obligations.
What is a prenuptial agreement?
A prenuptial agreement is written prior to marriage. It is an agreement by the people intending to marry about the divisions of property and spousal support if the pair end up deciding to divorce.
Can a listing agreement be canceled?
Yes, usually even before the end of the listing period. However, in the agreement it will normally stipulate that if you sell your property to anyone during the remainder of the period stated, you must pay the appropriate commission to the listing broker. Read the agreement to make sure.
Can a party to an agreement impose a term to the agreement during the performance of the agreement?
Your liability is limited to the contract agreement signed.
What does rent to own mean in real estate?
Rent-to-Own is a form of rental agreement which can mature into a purchase agreement. The tenant agrees to rent a property at a rate per month for a specific term. At the end of the term, the tenant will be given the right, but not obligation, to purchase the property at an agreed upon price. The amount of rental paid during the lease term will then be applied toward the purchase price of the property.
How would local cops be involved during a protest?
Local police only standby in a protest in order to protect property and keep the peace.
Can a bank in the state of Ohio hold the title or repossess an automobile that is in a spouse's name who did not sign the loan agreement?
Yes, if the vehicle was purchased during the marriage it is considered community property.
What is a rental agreement?
A rental agreement is an agreement signed by the landlord and tenant. The agreement must state the monthly rent, when it must be paid, any security deposit, the duration of the agreement and any restrictions or rules the landlord wishes to enforce as well as any rights that will accrue to the tenant. It should clearly state any deposit the tenant has already paid and what it is for (rent/security deposit). Rental agreements should contain any rights and obligations agreed upon by the parties.Although an agreement to rent a premises can be oral it should be in writing to protect the rights and set forth the responsibilities of the parties.
Is a life estate just like a prenuptial agreement?
No. They are completely different.A life estate allows a person to the use and possession of real property for life. When they die they owners of the property take possession free and clear of the life estate.A prenuptial agreement is a contract two people sign prior to their marriage. The agreement describes how the couple's financial affairs are to be handled both during the marriage and in the event of divorce. Enforceability varies by state laws.
What are some examples of separate property in a marriage and how is it defined in legal terms?
Separate property in a marriage includes assets acquired before the marriage, gifts or inheritances received by one spouse during the marriage, and property specifically designated as separate in a prenuptial agreement. In legal terms, separate property is defined as assets that are not considered marital property and are owned solely by one spouse.
Can you use tenancy by the entirety to protect property during bankruptcy when using federal exemptions or can it only be applied when state exemptions are used?
Any interest in property, no matter how you hold title, has to be disclosed for possible payment to creditors.
