Common use of PROPERTY DIVISION Clause in Contracts

PROPERTY DIVISION. (Check and complete only one – do not list complete account numbers) (a) The parties acknowledge that they have already made a division of their marital property. Neither party shall claim any of the property in the possession of the other party as of the date of signing this agreement. □ (b) The parties acknowledge that they did not obtain any property during their marriage. (c) The parties acknowledge that they possess various items of marital property, which shall be divided as provided in this Agreement. The parties agree to transfer possession and title to their property as follows: □ (1) Marital home – The marital home of the parties, located at the following address: . The legal description is included on the deed which is attached to this Agreement as Exhibit A. Person giving up ownership of the property (“Grantor): Person obtaining rights to the property (“Grantee”): The Grantor conveys the above referenced property to the Grantee in fee simple. Unless otherwise set forth herein, the Grantee shall be responsible for all taxes, assessments and mortgage payments on the home after the date this Agreement is signed by both parties. □ (2) Mobile Home – the parties agree to the transfer of their mobile home as follows:

PROPERTY DIVISION. (Check and complete only one – do not list complete account numbers) (a) The parties acknowledge that they have already made a division of their marital property. Neither party shall claim any of the property in the possession of the other party as of the date of signing this agreement. □ (b) The parties acknowledge that they did not obtain any property during their marriage. (c) The parties acknowledge that they possess various items of marital property, which shall be divided as provided in this Agreement. The parties agree to transfer possession and title tile to their property as follows: □ (1) Marital home – The marital home of the parties, located at the following address: . The legal description is included on the deed which is attached to this Agreement as Exhibit A. Person giving up ownership of the property (“Grantor): Person obtaining rights to the property (“Grantee”): The Grantor conveys the above referenced property to the Grantee in fee simple. Unless otherwise set forth herein, the Grantee shall be responsible for all taxes, assessments and mortgage payments on the home after the date this Agreement is signed by both parties. Other agreements concerning the marital home are set forth below: □ (2) Mobile Home – the parties agree to the transfer of their mobile home as follows: