This legal instrument is a type of real estate conveyance utilized within the state during the dissolution of marriage. It transfers ownership of property from one party to another, or from both parties jointly to one individual, subject to specific covenants. The grantor guarantees that they have not encumbered the property during their period of ownership, but makes no promises about what might have occurred before they took possession. A common scenario involves transferring a marital home solely to one spouse as part of a divorce settlement.
Its significance lies in providing a clear record of property ownership following a marital separation. This record helps prevent future disputes regarding title and potential claims against the property. Historically, transferring property during a divorce often involved more complex legal processes, but the implementation of standardized deed types, including this one, has streamlined the procedure, offering a more efficient and transparent means of asset division.
