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hi my name is Natalia Willett and I'm a real estate attorney here in the state of Florida and today I wanted to talk to you about settlement agreements in divorces and what happens when those involve real estate so there are five things that you should really focus on having in these settlement agreements number one you've got to make sure that all real property is listed in the divorce decree there are so many searches that I have conducted in which the final judgment of dissolution the settlement agreement failed to include a number of properties that were acquired through the divorce or that were used by the husband or the wife during the marriage and therefore are marital property number two it's not enough that the property is titled in just one spouse or the other during the marriage and therefore you think that that disposes of the issue and leaves the same people entitle know if you acquired or used a piece of real estate during the marriage it is irrelevant that it's only titled in the wife's name or only titled in the husband's name what matters is the use so if you for example had a rental property and you use that rental income as marital funds you commingled it with how you paid your mortgage your rent etc of your primary residence or you used it to spend with your vacations with your spouse and kids that's probably going to be considered a marital asset and so you're going to need disclaimers from your former spouse included in that final judgment to ensure that that property is not going to create an issue later on when you're trying to sell it and you don't have anything from that former spouse where they quitclaim their interest out of it so please make sure that's addressed number three failure to assign ownership creates a tenancy in common so if you've acquired property as husband and wife in your time of marriage and then you get a divorce and you fail to include that property in a distribution who keeps what and you fail to do the title transfers well now you own that property with that other person your ex spouse as tenants in common which means if they died you are now dealing with their heirs who may not just be your children and the same goes back and forth so please be aware of a tenancy in common they can also convey their 50% interest to whomever and then you're dealing with complete strangers they can also devise it so they can put in their will who they want that other half to go to be very careful about not omitting this and not forgetting that you will have a tendency in common in place number four be really clear about refinancing mortgages put a time line what amount of money is supposed to go to the other spouse seriously how long do they have to refinance under what terms are they going to refinance is there an alternative if they're enabled to refinance during the time period please be clear and then number five have an in case of death clause we live in the state of Florida strange things happen people pass away with regular frequency we can't escape death or taxes and so you must put in in your settlement agreements what happens especially if you have an activity an action that needs to be done after the final judgment of dissolution what happens in the event that that person dies or the other person dies who gets what does the property go to a or does it go to be all of those things should be included in your agreement so please keep those very important five items in in mind and good luck out there investors