Category: Divorce Documents
Questions/Answers
Are employee stock options divided using a DRO?
Usually. Most public corporations have their own template DRO used to divide employee stock options, restricted stock and deferred compensation plans.
What is the difference between a "divorce decree", "decree of dissolution," and a "dissolution judgment”?
There is no difference. A "divorce decree", "decree of dissolution," "a decree of dissolution of marriage," a "dissolution judgment," and a "dissolution order" are all names for the court document that contains the final order of your divorce. The name of the legal document that finalizes your divorce just depends on your local rules. "Dissolution" means "annulment or termination of a formal or legal bond, tie, or contract"; in this case, your marriage is the legal contract. Also please keep in mind that "divorce” and "dissolution” is essentially the same exact thing.
Helpful Tips and Facts
Transfer of Title During A Divorce
When both spouses own a home jointly and title must be transferred to one of the two spouses, there will need to be a change in the way title is held. You have a choice between a General Warranty Deed or QuitClaim Deed. If title insurance will not be issued, a Warranty Deed is preferable, since the transferring spouse is "warranting" title to the other spouse. If the spouse transferring the property does not want any liability, a General Warranty Deed is not recommended. For the party receiving the property, if title insurance is bought when a QuitClaim Deed is issued, the title is insured, and there is no difference to them between a General Warranty Deed and a QuitClaim Deed covered by title insurance.