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Definition Convey - to transfer property to another, by selling it or other means.

Application in Divorce In a divorce, upon reaching a property settlement or receiving a property award from the court, each party may have the obligation of conveying certain property to the other. The most common piece of property conveyed from one spouse to the other upon divorce is the marital home. The marital home is often transferred from one spouse to the other for a sum of money or in exchange for another marital asset.

See also Affadavit of Consideration.

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Conveying Property After Divorce
If you are transferring ownership of the marital home from one spouse to the other, make sure you get the other spouse off of the deed. Moreover, refinancing the marital home may be necessary in order to have the spouse’s name removed. Some people find out the hard way that they are not able to refinance the house they receive because as a single individual his or her income is insufficient.

Contributed on 6/27/2007 by: DivorceDex.com Staff
Category: Property Division (Applicable in All States)

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