After the Divorce
Once you are divorced, there are often post-divorce tasks to complete. Whether you are implementing the agreements or addressing post-divorce disputes, learning the basics (and what you can do on your own) will prepare you and may save you time and money.
Post Divorce Introduction
Learn about steps and tasks that need to be completed to implement the agreements outlined in the decree after the divorce is final.
Post Divorce Transfer of Real Estate
Learn the steps, considerations and potential challenges with transferring or handling real estate after a divorce is final.
Post Divorce Division of Retirement
Learn the procedures and legal requirements to divide each type of retirement account to facilitate a smooth transition and compliance with the divorce decree.
Post Divorce Division of Other Assets and Liabilities
Review considerations and tips for dividing assets and liabilities after divorce, like bank accounts, investment accounts and debts.
Poste Decree Dispute
Name Deletion
Also known as loan assumption, a process where one spouse takes over the existing mortgage, becoming solely responsible for payments, while keeping the original loan terms (e.g., interest rate, balance, maturity date). Lender approval is typically required, and not all loans are assumable.
Warranty Deed
A legal document that guarantees the grantor has clear title to the property and the legal right to transfer it, providing assurances against any future claims or encumbrances.
Debt-to-Income Ration (DTI)
Loan Modification
A change made to the terms of an existing loan by the lender, sometimes considered as an alternative to refinancing, though not a common divorce solution and not to be confused with a loan assumption or refinance.
Indemnification Clause
A legal provision in a divorce decree stating that the spouse retaining the home will protect ("indemnify") the other from any financial or legal harm related to the mortgage; this clause does not remove the non-retaining spouse from the loan in the eyes of the lender.
Refinance
The process of replacing an existing mortgage with a new one, typically done in divorce to remove a spouse from the loan, pay off the existing balance, and possibly extract equity for a buyout.
Loan Assumption
Also known as name deletion, a process where one spouse takes over the existing mortgage, becoming solely responsible for payments, while keeping the original loan terms (e.g., interest rate, balance, maturity date). Lender approval is typically required, and not all loans are assumable.
Indemnity Clause
A contractual provision in which one party agrees to compensate the other for any loss or damage incurred, often used to protect against financial liability.
