Does a final judgment of divorce convey real property? It can convey real property; however you have to have express language that the judgment serves as a conveyance. In particular when we have these final judgments that are done by the parties rarely do they provide for the judgment to serve as a conveyance of the property to the one particular spouse who’s supposed to receive it.
Some of the final judgments I see prepared by divorce counsel they say that the other party is to execute a deed conveying the real property. So the proper language that needs to be incorporated in a final judgment of a divorce is that the judgment serves as a conveyance to real property from one spouse to the other. So if you want the final judgment to convey real property to one spouse, to the other you need to pay particular attention to the wording in the final judgment.
There is language that can be used in deeds whereby a spouse conveys their interest to the other spouse. If there’s a mortgage on the property ordinarily they would require documentary stamps. However, if it is their homestead property and it is being conveyed pursuant to a marital settlement agreement and divorce proceeding then the Department of Revenue does not require the documentary stamp be placed on the conveyance.
If, however, we have more property than just the home then other property that is conveyed from one spouse to the other, pursuant to a marital settlement agreement, would require documentary stamps on the transfer based upon one-half of the unpaid balance of the mortgage that encumbers it. If there’s no mortgage on the property then there would not be any documentary stamps.
So if you are getting divorced and you want the final judgment of divorce to convey the real property from one spouse to the other you need to pay particular attention to the judgment that is entered. And it is a great idea to provide for that so that there is not a problem with judgments attaching to the spouse who is supposed to convey the property, their interest after their divorced or preexisting judgments.
So if you need some help with that well give me a call at 727-847-2288.