Real Estate Property
This is one of the most contentious and controversial areas of a divorce settlement. It is imperative that both parties try to resolve these issues in an amicable and business like manner. The real estate Clause must state which spouse will own the property and live in it, pay the mortgage, taxes, insurance, utilities, repair expenses, division of profits from sale of the property if it is sold.
Personal Property
Each spouse may keep their own personal property such as jewelry, books, clothes. All these items should be in the possession of the spouse before the divorce is filed. Otherwise, a list of the items should be included in the marital settlement agreement.
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