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Settling Property And Real Estate The Right Way!
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The buzz about real estate today is only on the rise. A property or real estate settlement involves equitable distribution of property and real estate, respectively, by two parties, which in most cases happens to be spouses. Documents relating to these areas are legally binding and deal with specific aspects of the separation of the entire divorce process. In order to write out a proper settlement agreement for a divorce, you should keep in mind what terms to use, what exactly should be included in the agreement, and how to establish property procedures in the future.
Therefore, take a look at the following pointers:
• With the help of a lawyer, or by the process of a court order, you should reach terms with the other party that is involved in the dispute, before actually writing the property settlement agreement. This is the first step that will ensure a smooth settlement procedure.
• You should identify one party as the “petitioner” or “applicant”. The other should be termed as the “responder”. These titles are arbitrary in case you have already used this terms beforehand.
• The first section should be titled as “preliminary matters” or “background”.
• State briefly why the parties have decided to separate and also when and where a divorce agreement was made.
• You must mention that the agreement you have drawn up is the final declaration regarding the division of property and real estate.
• In case both parties have received legal counselling, this should be stated. Lest, mention that both parties have mutually agreed to the arrangement and that both parties are fully aware of their rights.
• Section a part dealing with all homes, property and real estate.
• Mention which party is going to retain ownership of the land, real estate or home – whether it will be the petitioner or respondent. The value of the home or land and real estate is of great importance and you should not fail to mention this. If there are any payments to be made, for instance, do not forget to state this. In case you are selling your land, or home, or real estate, the date of sale should be mentioned, along with how the proceeds are going to be divided.
• Household items, vehicles, pets etc., should be mentioned in a section of the agreement and name it “property”. List each item of property and its estimated value. Also mention who will retain the property.
• Also add a section with accounts relating to retirement or investment and property or accounts held in trust of children.
• The petitioner and respondent along with attorneys should sign the documents along with the date.
Professional services can be availed of from Property Settlement Service agencies or a Real Estate Settlement Agent. They regularly undergo development and are up to date with the current trends and changes in the industry. These agencies would also make your job a lot easier and convenient. Also you won’t ever have to go through all the hassles that come by.
Roger Cruise, the Real Estate Settlement Agent is experienced one in solving legal formalities for you. Even he leads a group of Settlement Agent in Mandurah.
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