Common use of Distribution of Real Property Clause in Contracts

Distribution of Real Property. (Check one) ☐ ☐ The parties do NOT currently own a marital home. The parties currently own the real property located at (the "Marital Residence"). (Check one) ☐ ☐ Petitioner will be the sole owner. It is agreed that Respondent has vacated the Marital Residence or shall vacate the Marital Residence. It is further agreed that Petitioner shall assume sole ownership of the Marital Residence, and Respondent will transfer and release any right, title, claim or interest he/she may have in or to such Marital Residence. Respondent will be the sole owner. It is agreed that Petitioner has vacated the Marital ☐ Residence or shall vacate the Marital Residence. It is further agreed that Respondent shall assume sole ownership of the Marital Residence, and Petitioner will transfer and release any right, title, claim or interest he/she may have in or to such Marital Residence. ☐ The parties have joint ownership and Petitioner will reside in the marital home. It is agreed that the parties shall continue to own the home jointly. It is further agreed that Respondent has vacated the Marital Residence or shall vacate the Marital Residence, and Petitioner may continue to reside in the Marital Residence (Check one) for a period of time not to exceed ☐ years from the date of this Agreement. At the expiration of this year period, the parties agree to place the Marital Residence up for sale with a licensed real estate broker to be agreed upon by the parties indefinitely. ☐ ☐ The parties have joint ownership and Respondent will reside in the marital home. It is agreed that the parties shall continue to own the home jointly. It is further agreed that Petitioner has vacated the Marital Residence or shall vacate the Marital Residence, and Respondent may continue to reside in the Marital Residence (Check one) for a period of time not to exceed ☐ years from the date of this Agreement. At the expiration of this year period, the parties agree to place the Marital Residence up for sale with a licensed real estate broker to be agreed upon by the parties indefinitely. ☐ The marital home will be sold. The parties agree to place the Marital Residence up for sale with a licensed real estate broker to be agreed upon by the parties. ☐ ☐ ☐ Net proceeds from sale of marital home (Check one if applicable) Petitioner shall receive the net proceeds from the sale of such home. Respondent shall receive the net proceeds from the sale of such home. The net proceeds of such sale shall be divided between the parties with Petitioner receiving % of the net proceeds and Respondent receiving % of the net proceeds. ☐ Mortgage of marital home (Check one if applicable) ☐ Petitioner shall be solely responsible for payment of the monthly mortgage payment on the Marital Residence. Respondent shall be solely responsible for payment of the monthly mortgage payment on the Marital Residence. ☐ The parties shall share responsibility for payment of the monthly mortgage payment on the Marital Residence. Petitioner shall pay %of the monthly payment and Respondent shall pay % of the monthly payment, and each party agrees that payments shall be timely paid to the designated mortgagor. ☐ Maintenance and repairs (Check one if applicable) ☐ ☐ Further, Petitioner shall be responsible for % and Respondent will be responsible for % of Petitioner shall be solely responsible Respondent shall be solely responsible for all other expenses associated with the maintenance and upkeep of the Marital Residence such as utilities, lawn care and routine repair of appliances, etc. Major repairs (Check one if applicable) ☐ Any substantial repair or exterior repair such as something structural or associated with the roof ☐ ☐ maintenance shall paid by Petitioner % by Petitioner and % by Respondent by Respondent. OTHER real property (Fill out and check one if applicable) The parties currently own the real property located at , which shall: (Check one) ☐ ☐ ☐ Become the sole property and responsibility of Petitioner. Become the sole property and responsibility of Respondent. Be placed for sale with a licensed real estate broker to be agreed upon by the parties. Net proceeds of other real property (Check one) ☐ ☐ ☐ Petitioner shall receive the net proceeds from the sale of such property. Respondent shall receive the net proceeds from the sale of such property. The net proceeds of such sale shall be divided between the parties with Petitioner receiving % of the net proceeds and Respondent receiving % of the net proceeds.

Distribution of Real Property. (Check one) ☐ ☐ The parties do NOT currently own a marital home. ☐ The parties currently own the real property located at ______________________________________ (the "Marital Residence"). (Check one) ☐ ☐ Petitioner will be the sole owner. It is agreed that Respondent has vacated the Marital Residence or shall vacate the Marital Residence. It is further agreed that Petitioner shall assume sole ownership of the Marital Residence, and Respondent will transfer and release any right, title, claim or interest he/she may have in or to such Marital Residence. ☐ Respondent will be the sole owner. It is agreed that Petitioner has vacated the Marital ☐ Residence or shall vacate the Marital Residence. It is further agreed that Respondent shall assume sole ownership of the Marital Residence, and Petitioner will transfer and release any right, title, claim or interest he/she may have in or to such Marital Residence. ☐ The parties have joint ownership and Petitioner will reside in the marital home. It is agreed that the parties shall continue to own the home jointly. It is further agreed that Respondent has vacated the Marital Residence or shall vacate the Marital Residence, and Petitioner may continue to reside in the Marital Residence (Check one) ☐ for a period of time not to exceed ☐ __________ years from the date of this Agreement. At the expiration of this __________ year period, the parties agree to place the Marital Residence up for sale with a licensed real estate broker to be agreed upon by the parties ☐ indefinitely. ☐ ☐ The parties have joint ownership and Respondent will reside in the marital home. It is agreed that the parties shall continue to own the home jointly. It is further agreed that Petitioner has vacated the Marital Residence or shall vacate the Marital Residence, and Respondent may continue to reside in the Marital Residence (Check one) ☐ for a period of time not to exceed ☐ __________ years from the date of this Agreement. At the expiration of this __________ year period, the parties agree to place the Marital Residence up for sale with a licensed real estate broker to be agreed upon by the parties ☐ indefinitely. ☐ The marital home will be sold. The parties agree to place the Marital Residence up for sale with a licensed real estate broker to be agreed upon by the parties. ☐ ☐ ☐ Net proceeds from sale of marital home (Check one if applicable) ☐ Petitioner shall receive the net proceeds from the sale of such home. ☐ Respondent shall receive the net proceeds from the sale of such home. ☐ The net proceeds of such sale shall be divided between the parties with Petitioner receiving __________% of the net proceeds and Respondent receiving __________% of the net proceeds. ☐ Mortgage of marital home (Check one if applicable) ☐ Petitioner shall be solely responsible for payment of the monthly mortgage payment on the Marital Residence. ☐ Respondent shall be solely responsible for payment of the monthly mortgage payment on the Marital Residence. ☐ The parties shall share responsibility for payment of the monthly mortgage payment on the Marital Residence. Petitioner shall pay __________%of the monthly payment and Respondent shall pay __________% of the monthly payment, and each party agrees that payments shall be timely paid to the designated mortgagor. ☐ Maintenance and repairs (Check one if applicable) ☐ ☐ Further, ☐ Petitioner shall be responsible for __________% and Respondent will be responsible for __________% of ☐ Petitioner shall be solely responsible ☐ Respondent shall be solely responsible for all other expenses associated with the maintenance and upkeep of the Marital Residence such as utilities, lawn care and routine repair of appliances, etc. Major repairs (Check one if applicable) ☐ Any substantial repair or exterior repair such as something structural or associated with the roof ☐ ☐ maintenance shall paid by Petitioner ☐ __________% by Petitioner and __________% by Respondent ☐ by Petitioner ☐ by Respondent. OTHER real property (Fill out and check one if applicable) The parties currently own the real property located at ________________________________________, which shall: (Check one) ☐ ☐ ☐ Become the sole property and responsibility of Petitioner. ☐ Become the sole property and responsibility of Respondent. ☐ Be placed for sale with a licensed real estate broker to be agreed upon by the parties. Net proceeds of other real property (Check one) ☐ ☐ ☐ Petitioner shall receive the net proceeds from the sale of such property. ☐ Respondent shall receive the net proceeds from the sale of such property. ☐ The net proceeds of such sale shall be divided between the parties with Petitioner receiving __________% of the net proceeds and Respondent receiving __________% of the net proceeds.

Distribution of Real Property. (Check one) ☐ ☐ The parties do NOT currently own a marital home. The parties currently own the real property located at (the "Marital Residence"). (Check one) ☐ ☐ Petitioner will be the sole owner. It is agreed that Respondent has vacated the Marital Residence or shall vacate the Marital Residence. It is further agreed that Petitioner shall assume sole ownership of the Marital Residence, and Respondent will transfer and release any right, title, claim or interest he/she may have in or to such Marital Residence. Respondent will be the sole owner. It is agreed that Petitioner has vacated the Marital ☐ Residence or shall vacate the Marital Residence. It is further agreed that Respondent shall assume sole ownership of the Marital Residence, and Petitioner will transfer and release any right, title, claim or interest he/she may have in or to such Marital Residence. ☐ The parties have joint ownership and Petitioner will reside in the marital home. It is agreed that the parties shall continue to own the home jointly. It is further agreed that Respondent has vacated the Marital Residence or shall vacate the Marital Residence, and Petitioner may continue to reside in the Marital Residence (Check one) for a period of time not to exceed ☐ years from the date of this Agreement. At the expiration of this year period, the parties agree to place the Marital Residence up for sale with a licensed real estate broker to be agreed upon by the parties indefinitely. ☐ ☐ The parties have joint ownership and Respondent will reside in the marital home. It is agreed that the parties shall continue to own the home jointly. It is further agreed that Petitioner has vacated the Marital Residence or shall vacate the Marital Residence, and Respondent may continue to reside in the Marital Residence (Check one) for a period of time not to exceed ☐ years from the date of this Agreement. At the expiration of this year period, the parties agree to place the Marital Residence up for sale with a licensed real estate broker to be agreed upon by the parties indefinitely. ☐ The marital home will be sold. The parties agree to place the Marital Residence up for sale with a licensed real estate broker to be agreed upon by the parties. ☐ ☐ ☐ Net proceeds from sale of marital home (Check one if applicable) Petitioner shall receive the net proceeds from the sale of such home. Respondent shall receive the net proceeds from the sale of such home. The net proceeds of such sale shall be divided between the parties with Petitioner receiving % of the net proceeds and Respondent receiving % of the net proceeds. ☐ Mortgage of marital home (Check one if applicable) ☐ Petitioner shall be solely responsible for payment of the monthly mortgage payment on the Marital Residence. Respondent shall be solely responsible for payment of the monthly mortgage payment on the Marital Residence. ☐ The parties shall share responsibility for payment of the monthly mortgage payment on the Marital Residence. Petitioner shall pay %of the monthly payment and Respondent shall pay % of the monthly payment, and each party agrees that payments shall be timely paid to the designated mortgagor. ☐ Maintenance and repairs (Check one if applicable) ☐ ☐ Further, Petitioner shall be responsible for % and Respondent will be responsible for % of Petitioner shall be solely responsible Respondent shall be solely responsible for all other expenses associated with the maintenance and upkeep of the Marital Residence such as utilities, lawn care and routine repair of appliances, etc. Major repairs (Check one if applicable) ☐ Any substantial repair or exterior repair such as something structural or associated with the roof ☐ ☐ maintenance shall paid by Petitioner % by Petitioner and % by Respondent by Respondent. OTHER real property (Fill out and check one if applicable) The parties currently own the real property property, NOT the Marital Residence, located at ☐ ☐ ☐ , which shall: (Check one) ☐ ☐ ☐ Become the sole property and responsibility of Petitioner. Become the sole property and responsibility of Respondent. Be placed for sale with a licensed real estate broker to be agreed upon by the parties. Net proceeds of other real property (Check one) ☐ ☐ ☐ Petitioner shall receive the net proceeds from the sale of such property. Respondent shall receive the net proceeds from the sale of such property. The net proceeds of such sale shall be divided between the parties with Petitioner receiving % of the net proceeds and Respondent receiving % of the net proceeds.

Distribution of Real Property. (Check one) ☐ ☐ The parties do NOT currently own a marital home. ☐ The parties currently own the real property located at ______________________________________ (the "Marital Residence"). (Check one) ☐ ☐ Petitioner will be the sole owner. It is agreed that Respondent has vacated the Marital Residence or shall vacate the Marital Residence. It is further agreed that Petitioner shall assume sole ownership of the Marital Residence, and Respondent will transfer and release any right, title, claim or interest he/she may have in or to such Marital Residence. ☐ Respondent will be the sole owner. It is agreed that Petitioner has vacated the Marital ☐ Residence or shall vacate the Marital Residence. It is further agreed that Respondent shall assume sole ownership of the Marital Residence, and Petitioner will transfer and release any right, title, claim or interest he/she may have in or to such Marital Residence. ☐ The parties have joint ownership and Petitioner will reside in the marital home. It is agreed that the parties shall continue to own the home jointly. It is further agreed that Respondent has vacated the Marital Residence or shall vacate the Marital Residence, and Petitioner may continue to reside in the Marital Residence (Check one) ☐ for a period of time not to exceed ☐ __________ years from the date of this Agreement. At the expiration of this __________ year period, the parties agree to place the Marital Residence up for sale with a licensed real estate broker to be agreed upon by the parties ☐ indefinitely. ☐ ☐ The parties have joint ownership and Respondent will reside in the marital home. It is agreed that the parties shall continue to own the home jointly. It is further agreed that Petitioner has vacated the Marital Residence or shall vacate the Marital Residence, and Respondent may continue to reside in the Marital Residence (Check one) ☐ for a period of time not to exceed ☐ __________ years from the date of this Agreement. At the expiration of this __________ year period, the parties agree to place the Marital Residence up for sale with a licensed real estate broker to be agreed upon by the parties ☐ indefinitely. ☐ The marital home will be sold. The parties agree to place the Marital Residence up for sale with a licensed real estate broker to be agreed upon by the parties. ☐ ☐ ☐ Net proceeds from sale of marital home (Check one if applicable) ☐ Petitioner shall receive the net proceeds from the sale of such home. ☐ Respondent shall receive the net proceeds from the sale of such home. ☐ The net proceeds of such sale shall be divided between the parties with Petitioner receiving __________% of the net proceeds and Respondent receiving __________% of the net proceeds. ☐ Mortgage of marital home (Check one if applicable) ☐ Petitioner shall be solely responsible for payment of the monthly mortgage payment on the Marital Residence. ☐ Respondent shall be solely responsible for payment of the monthly mortgage payment on the Marital Residence. ☐ The parties shall share responsibility for payment of the monthly mortgage payment on the Marital Residence. Petitioner shall pay __________%of the monthly payment and Respondent shall pay __________% of the monthly payment, and each party agrees that payments shall be timely paid to the designated mortgagor. ☐ Maintenance and repairs (Check one if applicable) ☐ ☐ Further, ☐ Petitioner shall be responsible for __________% and Respondent will be responsible for __________% of ☐ Petitioner shall be solely responsible ☐ Respondent shall be solely responsible for all other expenses associated with the maintenance and upkeep of the Marital Residence such as utilities, lawn care and routine repair of appliances, etc. Major repairs (Check one if applicable) ☐ Any substantial repair or exterior repair such as something structural or associated with the roof ☐ ☐ maintenance shall paid by Petitioner ☐ __________% by Petitioner and __________% by Respondent ☐ by Petitioner ☐ by Respondent. OTHER real property (Fill out and check one if applicable) The parties currently own the real property property, NOT the Marital Residence, located at ________________________________________, which shall: (Check one) ☐ ☐ ☐ Become the sole property and responsibility of Petitioner. ☐ Become the sole property and responsibility of Respondent. ☐ Be placed for sale with a licensed real estate broker to be agreed upon by the parties. Net proceeds of other real property (Check one) ☐ ☐ ☐ Petitioner shall receive the net proceeds from the sale of such property. ☐ Respondent shall receive the net proceeds from the sale of such property. ☐ The net proceeds of such sale shall be divided between the parties with Petitioner receiving __________% of the net proceeds and Respondent receiving __________% of the net proceeds.