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What is the purpose of an Interspousal deed?

An interspousal transfer deed, more technically called an interspousal transfer grant deed, is a legal document used to give sole ownership of shared property, such as a house, to one person in a marriage. They are commonly employed in divorce cases to transfer community property to one spouse.

Is an Interspousal transfer a gift?

An interspousal transfer deed will transfer the title (or ownership) between a married couple. If there was a gift given by one spouse to the other during the course of the marriage, this is considered separate (or owned separately) and not marital or mutually-owned property.

What is the purpose of a quit claim deed?

What does a quitclaim deed do? A quitclaim deed transfers the title of a property from one person to another, with little to no buyer protection. The grantor, the person giving away the property, gives their current deed to the grantee, the person receiving the property.

Is Idaho a marital property state?

Idaho is a community-property state. These laws apply to anyone domiciled in Idaho or owning real property (real estate) located in Idaho. The laws affect how you and your spouse file your federal and state income tax returns.

How does a quit claim deed work in Idaho?

An Idaho quitclaim deed, unlike the warranty deed, conveys property from a seller (grantor) to a buyer (grantee) without a warranty as to whether the grantor has the authority to sell the property or has clean title to the property.

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