What is a divorce lien?
A divorce lien is based upon a deed, a note and a deed of trust (or mortgage). The departing spouse deeds the property over to the remaining spouse, who continues to live in the house. The remaining spouse signs a note payable to the order of the departing spouse and gives a deed of trust secured by the property.
What happens when you get a divorce lien?
A divorce lien can avoid the usual turmoil of selling the house and splitting the money – especially since the home is often a divorcing couple’s largest single asset. With a divorce lien, one party keeps the house, and the other gets a note and deed of trust (or mortgage) secured by the property. One gets real estate, and the other gets paper.
Why do divorce lien notes not have monthly payments?
However, most divorce lien notes do not have monthly payments because the wife’s financial situation does not allow it.
Is a lien a good solution to a divorce?
Clearly, a divorce lien is an excellent solution to the emotionally and financially draining problem of property settlement.
Can a departing spouse hold a deed of trust?
The departing spouse can hold the note until it pays off, or he can sell it for cash. If the departing spouse has no need for immediate cash, he can accept a payoff from the wife, ...
Can a lien be used to sell a house?
A divorce lien can avoid the usual turmoil of selling the house and splitting the money – especially since the home is often a divorcing couple’s largest single asset.
Does a divorce settlement include alimony?
It is wise to include language in the divorce settlement that the divorce lien is based upon equalization of marital assets (owelty) only, and that the lien does not include alimony, spousal maintenance or child support obligations.
How long does a spouse have to respond to a divorce in Utah?
Spouse’s Default. When a spouse is served with papers in a divorce in Utah, they have 21 days to file a response (30 days if served outside the state). If a party does not answer a complaint within the allotted timeframe, the other party can seek a default judgment.
What is the child support law in Utah?
Utah law establishes Child Support Guidelines to calculate a parent’s child support obligation. The exact amount is driven primarily by each parents’ income. The guidelines have three components:
What are the factors that determine child custody in Utah?
Some of the factors include: moral and financial conduct of the parents.
What is considered marital property in a divorce?
In general, assets acquired during a marriage through a date of separation are considered marital property, except in some cases of gifts or inheritance.
Why is disclosure required in Utah?
Disclosing assets is required in Utah so that an equitable distribution of assets can take place. Once information has been disclosed, there is a legal obligation to update information as it changes or becomes available.
How long do parents have to support their minor children in Utah?
Both parents are legally responsible for supporting their minor children in Utah. This obligation continues until a child turns 18 or has completed high school, whichever is later.
What are the factors that determine alimony?
According to state laws, the court may consider the following and other factors when deciding whether to award alimony: The financial condition and needs of the party who would receive alimony. This includes the recipient’s monthly debts and obligations, and their ability to pay these debts.
What Is the Utah Divorce Process?
To start the divorce process in Utah, you will need to collect and submit the required paperwork. You must do the following:
What if You and Your Spouse Cannot Reach a Settlement?
If you and your spouse are in broad agreement about the terms of the settlement, but one or two points remain unresolved, this does not mean that you need to engage a lawyer.
How and where in Utah is a divorce complaint filed?
The Petition for Dissolution is filed with the clerk of the court, in the jurisdiction where you live or where most of the marital property is located. You go to the courthouse with the Petition for Divorce, Case Information Cover sheet, Summons, Proposed Parenting Plan, Child Support Obligation Worksheet, Certificate of Dissolution, and pay the clerk the filing fee for the action or your attorney can file the documents for you. You can go to www.utcourts.gov to find the list of courts in each county.
How do I prove fault for divorce in Utah?
Utah is a no fault state. However, fault is a factor considered by the court in reviewing whether alimony should be awarded. This fault factor is currently not being enforced by the courts due to the Utah Appellate Court declaring they are unable to define fault.
What is the cost of divorce in Utah? Can I afford it?
Unfortunately, there are no set numbers on how much your divorce in Utah will ultimately cost. You do have several options in lieu of trial that will cut costs such as mediation and settlement discussions.
How is property divided in a divorce in Utah?
Property is divided by the Utah courts during a divorce. Divorce laws in Utah state that marital property should be divided equitably. This means that a Utah court could decide that it is fair to split the marital property 50-50 or they may decide that one party deserves more than 50% of the property.
Can I get an annulment in Utah?
Annulments are very rare and do not offer many benefits over a divorce. They must follow essentially the same timeline and will incur the same costs. Annulments occur where you or your spouse can show that your marriage is invalid. Marriages can be invalid under the following circumstances:
When can I file for divorce in Utah?
In Utah, you must have been a resident of the state and county for three months prior to the filing for divorce.
Do I have to go to court for a divorce in Utah?
There are several appearances that are required in your Utah divorce proceeding whereby you will be required to appear before the judge. You will need to be present at most of these appearances but will not have to speak. Your attorney will appear and present the evidence and testimony on your behalf.
What does a divorce settlement agreement cover?
They can cover child support, visitation, and payment of marital debt or, they can cover everything from the right of first refusal to the custody of the family pet.
What to do if your ex isn't paying child support?
If your ex isn’t complying with court-ordered child support or spousal support you will need to hire a divorce attorney to file a petition for contempt. Once this is done a judge can “compel” your ex to pay by garnishing their wages or sending them to jail until they agree to make regular payments.
Can you enforce a divorce settlement agreement?
If you get lucky you will never have to turn to the family court system to enforce your divorce settlement agreement. If you don’t get lucky this article outlines the steps you will need to take to enforce the said agreement.
Should I enter into a divorce with little debt?
Your best bet is to protect yourself BEFORE anyone is given the opportunity to ruin your credit score, or before you are forced to take the steps to enforce a divorce settlement agreement.
What is a judgment lien in Utah?
A judgment lien is one way to ensure that the person who won the judgment (the creditor) gets what he or she is owed. A judgment lien gives the creditor the right to be paid a certain amount of money from proceeds from the sale of the debtor's property. So how do judgment liens work in Utah?
Where do you attach a lien in Utah?
To attach the lien, the creditor records the judgment in the office of the county recorder in any Utah county where the debtor owns property now or may own property in the future.
What kind of property is subject to a judgment lien under Utah law?
In every state, a judgment lien can be attached to the debtor's real estate -- meaning a house, condo, land, or similar kind of property interest. And some states also allow judgment liens on the debtor's personal property -- things like jewelry, art, antiques, and other valuables.
How long does a judgment lien last in Utah?
A judgment lien in Utah will remain attached to the debtor's property (even if the property changes hands) for eight years.
Where can I look up Utah law on judgment liens?
If you want to go right to the source and look up Utah laws on judgment liens -- maybe you're a party to a judgment, or you're just researching potential encumbrances on property -- the relevant statute (s) can be found at Utah Code Ann. Sections 78B-5-201 to 203, 78A-7-117. For tips on looking up Utah state laws, check out Nolo's Laws and Legal Research section.
Can a lien be used to collect a judgment in Utah?
In Utah, a property lien can be used to collect a court judgment. Here's how it works.
Can a judgment lien be touched in Utah?
Keep in mind: In Utah, a creditor's ability to collect under a judgment lien will be affected by a number of factors -- including a fixed amount of value that won't be touchable if the property is the debtor's primary residence (called a homestead exemption), other liens that may be in place, and any foreclosure or bankruptcy proceedings.
How long do you have to live in Utah before filing for divorce?
File your forms. In Utah, paperwork must be filed with the district court in the county in which at least one of the parties has lived for at least three months immediately before filing the divorce petition. For more details on filing, go here.
How long does it take to get a divorce in Utah?
After you file your paperwork, the respondent has 21 days to file an answer, or 30 days if they were served outside of the state. When an answer is filed, both parties must provide initial disclosures to each other. This will include a Financial Disclosure among other documents.
What are your options for divorce?
It is in your best interests to fully understand all of your options when you are thinking about getting a divorce. The path that you ultimately take will be determined by the relationship you have with your spouse.
What is a divorce decree?
When all issues have been agreed upon, a Utah court will issue a divorce decree. This is a binding and legal document that spells out the details of the divorce, including a division of assets, alimony, child custody and support and other important issues that have been decided.
What is a divorce certificate?
After a divorce decree has been granted, a divorce certificate will be filed with the Utah Department of Health, Utah Vital Records and Statistics. Divorce records are kept for the period of 1978 through 2010. After that period, records are found at the district court where the divorce took place.
What are the fees associated with divorce?
There are some fees associated with a divorce case that can’t be waived: The fee to have a non-Utah sheriff or constable or a private process server serve the documents. The fee to serve someone by mail. The fee to publish a legal notice in a newspaper. The fee to have the county recorder record a judgment.
Is divorce legal in Utah?
Divorce is a permanent and legal end to a marriage in Utah. All ties are severed, assets are divided, custody and alimony issues are resolved, and each spouse goes their separate way after a final decree is issued.
Divorce Liens Should Be Negotiable Instruments
Creating A Note to Bring The Highest Cash Price
- You should also know how to create a note that can bring the highest cash price. Keep in mind these three principles based on the time value of money: A note is worth more if: 1. it has monthly payments instead of just one lump sum; 2. it has a short term to the payoff date; and 3. it has a high interest-rate. If the wife can afford to make monthly payments on the note, rather than one l…
Paperwork and Insurance
- When the documents are complete and signed, the deed is recorded first, then the deed of trust (or mortgage). The deed is delivered to the spouse retaining the house, while the note and deed of trust (or mortgage) are delivered to the departing spouse. This is the time for each of the two parties to buy title insurance. The wife should get an owner’s policy and the husband a mortgage…