As a divorce attorney with a law firm located in East Brunswick, New Jersey, it is not uncommon for one spouse to retain their home by “buying out” the other spouse. Under such a scenario, the lawyer for the spouse who is being “bought out” will insist that their client’s name is removed from the mortgage. In turn, the lawyer for the spouse who is keeping the home will insist that a Deed is drafted which transfers the house from “Husband and Wife” to “Wife,” (as is the situation in the hypothetical Deed below). As I am often asked about this process, I decided to share what the new Deed looks like. Of course, if you or a loved one is facing a divorce, please contact my office to learn more about how we may help you.
Edward R. Weinstein, Esq.
This Deed is made on June 15, 2008
BETWEEN Mark Woods unmarried (formerly married to Mary Woods), whose address is 320 Lake Street, Somerset, NJ and Mary Woods, unmarried (formerly married to Mark Woods), whose address is 900 Oak Lane, Somerset, NJ, hereinafter referred to as the Grantors,
AND Mary Woods, unmarried, (formerly married to Mark Woods) whose address is 320 Lake Street, Somerset, NJ, hereinafter referred to as the Grantee.
The words “Grantor” and “Grantee” shall mean all Grantors and all Grantee listed above.
Transfer of Ownership. The Grantor grants and conveys (transfers ownership of) the property described below to the Grantee. This transfer is made for the sum of $1.00. The Grantor acknowledges receipt of this money.
Tax Map Reference. (N.J.S.A. 46:15-2.1) Municipality of the Somerset County and State of New Jersey.
Block No. 1 Lot No. 2 Account 38
___No property tax identification number is available on the date of this Deed. (Check if applicable).
Property. The property consists of the land and all the buildings and structures on the land in the Municipality of the Somerset County and State of New Jersey. The legal description is: SEE LEGAL DESCRIPTION ATTACHED HERETO.
BEING THE SAME PREMISES conveyed to Mark Woods and Mary Woods, by deed of Jane Doe and John Doe dated 1/15/2008, and recorded in the Somerset County Clerk/Register’s Office on 1/12/2008, in Book 4567 at Page 123.
SUBJECT TO a certain mortgage in favor of Citizens Financial dated 1/15/2008, and recorded in the Somerset County Clerk/Register’s Office on 1/17/2008, in Book 1234 of Mortgages at Page 1321.
SUBJECT TO easements, restrictions, grants, right of way, municipal ordinances and agreements of record.
SUBJECT TO such facts as an accurate survey may disclose.
The purpose of this deed is to place the full fee simple title in the Grantee, single, pursuant to an agreement which in incorporated in a Judgment of Divorce entered on November 22, 2008, in the Superior Court of New Jersey Somerset County, Chancery Division, Family Part, bearing Docket No: FM-000000-88.
It is the intention of this instrument to convey and transfer all of the right, title and interest of the Grantor in the foregoing described premises to the Grantee named herein including all rights of equitable distribution pursuant to N.J.S.A. 2A:34-23.1 et seq. This conveyance also releases the inchoate or possible future estate of said grantor by the marital interest in the premises hereinbefore described. This Deed is given pursuant to N.J.S.A. 37:2-18.1 and N.J.S.A. 3B:28-3, and the several acts amendatory or supplemental thereto, to convey all the right, title and interest of the grantor in and to the premises above described to the Grantee, including right of survivorship, the inchoate or possible future estate of dower or courtesy.
BEING COMMONLY KNOWN AS 320 Lake Street, Somerset, NJ
Promises by Grantor. The Grantor promises that the Grantor has done no act to encumber the property. This promise is called a “covenant as to grantor’s acts” (N.J.S.A. 46:4-6). This promise means that the Grantor has not allowed anyone else to obtain any legal rights which affect the property (such as by making a mortgage or allowing a judgment to be entered against the Grantor).
Signature. The Grantor signs this Deed as the date at the top of the first page.
STATE OF NEW JERSEY, COUNTY OF SOMERSET:SS:
I CERTIFY that on ________________, 20__, Mark Woods, personally came before me and acknowledged under oath, to my satisfaction, that this person (or if more than one, each person):
STATE OF NEW JERSEY, COUNTY OF SOMERSET: SS:
I CERTIFY that on ________________, 20__, Mary Woods, personally came before me and acknowledged under oath, to my satisfaction, that this person (or if more than one, each person):
Dated: July 20, 2008
Mark Woods and Mary Woods _________________________________________
Record and return to:
Edward R. Weinstein, Esq.
Attorney, State of New Jersey