6/36 Rule
A rule employed by loan providers to assess if child support and/or alimony income can be considered as income when determining mortgage loan qualifications. The loan provider must ensure that the support payments have been regularly received by the borrower for the previous 6 months and will stay as such for at least 36 months after the date of the intitial loan application. Some lenders require the the latter “36” portion to be at least 36 months from the date the loan is funded. For more information, visit: Divorce Mortgage San Diego - The Rule of 6/36 (activerain.com)
Alimony
This consists of financial contributions provided to assist a spouse or ex-spouse throughout a separation or after a divorce. This is also sometimes referred to as “Spousal Maintenance”, or in California divorces as “Spousal Support”.
Alternative Dispute Resolution (ADR)
The process of addressing legal disputes without going to court and in a less hostile manner. Arbitration, Collaborative Practice Divorce, and Mediation are examples of commonly used ADR processes.
Amortization Schedule
A chart depicting the impact of mortgage payments on mortgage debt as time progresses. The schedule details what portion of a specific mortgage payment will be applied to the principal (the outstanding balance of the loan) and interest (the amount charged for funding a loan) when the loan starts. It also shows the way in which such payments will be applied throughout the mortgage maturity. For more information, visit: Amortization schedule - Wikipedia
Annulment
Also known as "Nullity of Marriage". A legal procedure that declares a marriage null and void. Unlike a divorce, it Annulment can be retroactive, as it never existed. Some justifications for annulment may be: incest, group marriage, child marriage, bigamy, unsound mind, fraud, physical incapacity, or force.
Appraisal
Detailed and official property evaluations carried out by certified and trained valuation experts called “appraisers” that most lenders need before issuing final authorization for a loan. An appraisal report provides thorough information regarding a home's worth and suitability, as well as the structures and land's physical measurements. The value is often determined by making adjustments to the values of recently sold comparable properties. It may also involve zoning and permit research. Alternately, an appraiser can also estimate the value of a property by assessing the cost to rebuild or replace the property. For more information, visit: What Does an Appraiser Do? (realtor.com)
Arbitration
A type of Alternative Dispute Resolution for resolving disagreements outside of court. The dispute is submitted to an unbiased third person (deemed the “arbitrator”) designated by the parties. The parties agree in advance to comply with the award—a decision to be issued after a hearing at which both parties have an opportunity to be heard. Either one arbitrator, multiple arbiters, or an arbitral tribunal will make a decision regarding the case and issue an 'arbitration award.' The award of arbitration is binding on both parties and enforceable in courts, except if all parties agree otherwise.
Arrearage
An overdue sum of money owed for spousal or child support.
ARM/Adjustable Rate Mortgage
A mortgage loan with an interest rate that is subject to change, even if fixed for an initial time period. The rate of interest can (and typically does) fluctuate throughout the loan period, making the amount owed each month unpredictably high or low. For more info, visit: Fixed-Rate vs. Adjustable-Rate Mortgages (investopedia.com)
As-Is Clause
A purchase agreement’s clause that specifies that a property will be sold "As-Is," meaning that it will be sold in its current condition; it will not be repaired. A purchaser may still be able to conduct their own property investigation, but the Seller might not be responsible for performing repairs. Even in an “As-Is” sale, a Seller is prohibited from knowingly concealing material facts about the property.
Asset Waste
Improper use of land or structures by a property owner, which results in a decrease in the value of the property concerned.
Attorney
A person acting on behalf of another, a legal agent, in business or legal matters, such as court proceedings.
Attorney in Fact
A person not that is not trained legally, but represents you in court, typically after your consent through a letter called a Power of Attorney. An Attorney at Law has legal training
Automated Valuation Model/AVM
Evaluations carried out by an electronic system and nearly solely based on publicly available data regarding past sales (See “Comparables”). AVM’s are not regarded as an accurate source for determining value because AVM’s are based on older historical data and do not typically take into consideration a property's condition or its area. The same goes for zoning or any previous modifications. The Zestimate provided by Zillow is an example of an AVM. For more information, visit: Zillow Estimates: Not As Accurate As You Think (investopedia.com)
Automatic Temporary Restraining Order/ATRO
A court ruling that instantly comes into force once a divorce summons has been served. ATROs provide protection to both spouses by keeping them from partaking in actions that may lead to sabotaging each other.
Bar
A group of attorneys overseen by local bar associations. These associations focus on practicing law within a specific jurisdiction, providing regular training and seminars as well as networking opportunities for members in the field to share ideas with one another.
Bench
1. The location in a courtroom where a judge sits -OR-
Bifurcation
When a trial is split into two parts in order to settle a minor issue within a bigger case.
Buyers' Agent/Selling Agent
A real estate agent who represents the interests of the person buying a property.
Buyout
When a joint property owner purchases the other joint property owner's equity interest for an agreed upon sum.
CARES Act
A mortgage forbearance program that enables homeowners to temporarily halt their loan payments during the 2020/2021 global coronavirus pandemic. Payments can be paused for up to 360 days.
CA Resident
A long-term California resident for six or more months.
CDLP/Certified Divorce Lending Professional
A mortgage loan officer who has received specialized training and certification from the Divorce Lending Association in order to offer lending expertise in complicated and/or adversarial real estate scenarios. The divorce specific expertise of a CDLP is often instrumental in determining the feasibilfy and options available to a spouse who wishes to keep the house. For More information, visit: Divorce Mortgage Planning & Lending Certification | CDLP™ | Divorce Lending Association, LLC
CDRE / Certified Divorce Real Estate Expert
Certified through the Ilumni Institute, a CDRE is a real estate agent who has passed a rigorous screening process with demonstrated expertise and experience in working with divorcing couples, completed an attorney led mentorship, completed past and ongoing divorce specific real estate training and community education, and is qualified to handle complicaged and/or emotionally heightened real estate transactions when homeowners are going through a divorce. The CDRE may or may not be assigned by a court of law. For more information, visit: The Ilumni Institute - Divorce Real Estate Certification and Education for Realtors
Certification
A document similar to an affidavit in that it contains sworn statements regarding the details of a specific problem. A certification is issued in conjunction with a Notice of Motion or in response to a Notice of Motion initiated by your spouse.
Chain of Title
The property's historical ownership whereby every owner constitutes one link in the chain.
Child Support
The amount of money which a non-custodial parent gives to the custodial parent in order to support their child(ren).
Cloud on Title
Any claim or document that can cast doubt on someone's right as the sole owner of a property's title. For example, a claim can be made against a property by a contractor who has carried out work on the property but has not been paid for it.
Collaborative Practice Divorce
A method of Alternative Dispute Resolution used in divorce. In Collaborative Practice, each spouse maintains their own attorney/legal counsel, but retains the right to make joint decisions about the terms of their divorce, without going to court. Certified Divorce Financial Advisors (CDFA) and Divorce Communication Coaches (often MFT) help the parties make informed decisions about finances and communicate more effectively during the process. Creative solutions that put children and families first are often the goal in Collaborative Practice Divorces. For more information visit: http://NoCourt.org
Commissioner
A government-appointed individual who oversees the implementation of legislation pertaining to a specific subject topic (similar to a judge).
Community Debts
Debts that are jointly owed by a husband and wife or registered domestic partners. Most, if not all, debts acquired during a marriage.
Community Property/Marital Property
Anything that is jointly owned by a husband and wife or registered domestic partners. Most commonly, assets purchased or acquired (except through inheritance) through the use of combined funds or funds earned during a marriage. For instance, any money or benefits, including stock options and pensions, accrued while living with each other as husband and wife or as registered domestic partners.
Comparable Market Analysis/CMA (A.K.A. Broker Price Opinion/BPO)
A real estate agent's assessment of the value of a property. The evaluation is mostly dependent on recently sold similar/comparable properties and data gathered from the Multiple Listing Service. A quick visual assessment of the property may or may not be included, and it is not generally accompanied by measurements or research on permits and zoning.
Comparables/Comps
Properties recently sold and considered similar to a home being evaluated for value. Comps are recently sold homes most similar to the subject property in square footage, location, condition, age, and other criteria that contribute to estimating a home's value.
Conflict Spectrum
A scale that assesses the level of conflict in the relationship of a divorcing couple.
Contempt
A formal action taken against an individual for failing to comply with a court order.
Contingency
A clause in a real estate contract that enables buyers and sellers to terminate the agreement if specific requirements are not satisfied, often without penalty. For example, an inspection contingency indicates that the buyer will be ready to purchase the property only if they are happy with the outcome of the home inspection or they may have the option to negotiate terms or cancel without penalty. A seller may insert a condition in his or her contract requiring the buyer allow the Seller to find a replacement home. This gives the seller a specified time frame to find a new home, and if they are unable to do so within the time range outlined in the contract, the seller may be able to withdraw from the agreement at their discretion.
Contingent Repairs
Repair work that must be conducted prior to the completion of a purchase contract. Repairs could be at the Buyers’ preference, or due to their lender’s guidelines. Conventional loans tend to be less critical of property condition, calling out only more significant health and safety issues. However other loans, such as FHA or VA are more restrictive in their property condition requirements. To find out more, visit: Appraisal repair requirements for FHA, VA and USDA home loans | Mortgage Rates, Mortgage News and Strategy: The Mortgage Reports
Conveyance
The process of transferring property ownership from one person to another, for example, through a conveyance deed.
Court
An official tribunal run by a judge. The judge is often referred to as the court.
Court order
A legal decision that orders or instructs on what to do or not do.
Custody
The right and ability to decide what is best the best care for your child. There are two different types. The first one is legal custody, which gives you the authority to make critical choices concerning your child's wellbeing for items such as health and education. The second one is physical custody, which is when you and your child live together, and you have the right to raise the child. Each type of custody may be exclusive to one parent or shared between parents, based upon mutual agreement of the parents or via court order.
DCSS / Department of Child Support Services
County run department created to “encourage responsible parenting, family self sufficiency” by offering assistance in establishing paternity, obtaining, modifying, and collecting child support.
Debt-to-Income Ratio/DTI
The relationship between an individual's current income and the amount of debt that they owe. This comparison is done to determine whether a buyer will be able to afford a loan. Mortgage lenders often calculate a “Front End DTI” (a calculation of current income divided by the proposed housing PITI expenses) and a “back end DTI” (the calculation of the borrower’s gross current income divided by their total proposed PITI AND monthly credit debt.)
Decree
The Court's ultimate verdict or written Order authorizing and concluding the divorce and outlining its terms. The decree is frequently issued together with the court's judgment.
Deed
The legal document that officially transfers property ownership from one person to another. Among the many different types of deeds available, the Quitclaim deed is the one that is most frequently seen in a divorce case.
Default
1.Failure to pay a debt back under the agreed upon terms. -OR-
Defendant/Respondent
The person/entity against whom a case or legal papers have been filed
Deferred Principal Balance
A loan modification that requires a balloon payment of deferred principal upon home sale.
Deposit Account
A type of account to which funds can be added. Generally, a money market account, a savings account, or a checking account at a bank or other financial institution.
Deposition
An element of a legal proceeding's discovery or information-exchange process. It is when the opposing party's attorney gathers information from you by asking you questions in the presence of your own attorney. Everything is written on a transcript.
Discovery
The legal procedure for the interchange of the pertinent information on all divorce-related matters, such as both parties’ finances. Conducting depositions delivering interrogatories, responses to these, and producing documentation are types of discovery.
Disposition
When a house is being disposed of, whether via a traditional sale, by transferring ownership, or by deliberately walking away from a mortgage. The latter is sometimes referred to as a "strategic foreclosure".
Dissolution
Also referred to as "divorce", this is a legal term that refers to the dissolution/dissolving/elimination of a married couple's marital connection.
Dissomaster/Ex-spouse
The computer program for determining child support as well as provisional spousal support in California.
Divorce
The legal termination of a marriage relationship.
DOM
1. Date of Marriage – The date a couple becomes legally married, typically evidenced by a marriage certificate.
Domestic violence. Physical violence or threats of physical violence that occur among family members who live together.
DOS / Date of Separation
The date that a complete and final break in the marital relationship has occurred. DOS can be a debatable item for divorcing couples, but it is evidenced by the intent and consistency of words and conduct of the spouse to end the marriage.
Dual Agency
When one real estate agent represents both a buyer and a seller within the same transaction for a given property. Although this practice is legal for licensed real estate agents in California, it continues to be a controversial “gray area.” Some agents and clients feel it can be unethical because the real estate agent makes a profit irrespectively from the transaction's outcome. Others feel dual agency increases the likelihood of litigation because the agent cannot fully advocate for either client, and could, therefore, neglect to advocate for either.
DVTRO / Domestic Violence Temporary Restraining Order
A time limited order restricting or prohibiting an individual in the same household, that has posed physical threats and/or violence, from contacting and/or interacting with the threatened or injured individual.
Dwelling Exclusion/Kickout Order
The order issued to evict one of the spouses from the marital home.
Early Settlement Panel (ESP)
A Court House's conference whereby both spouses and their respective attorneys are present. The case details are given to a panel of family-law practitioners who offer their time to help resolve the case. These panelists take into account the relevant details of the case before making suggestions for a resolution. Despite the fact that it is not legally enforceable, this suggestion often assists both parties and their respective attorneys in reaching a settlement agreement.
Encroach/Encroachment
Trespassing on another person's land or belongings, possibly without permission. When it comes to real estate, this term typically refers to a building that is partly or fully constructed over the borders of another person's land.
Encumbrance
Any restriction on a property owner's ability to make complete, "unencumbered" use of their land. Encumbrances will cause a cloud on a property's title and may have an impact on the property's resale value as a consequence or even prevent the property from being financed or transferred/sold to a new party. Easements, encroachments, liens, and restrictions are the most common types of encumbrances.
Equalization
The process of bringing things into balance. In the event of a divorce, one spouse may make an equalization payment to the other spouse for the purpose of bringing the worth of the assets they each retain in the settlement back into balance.
Equitable Distribution
A distribution of property in a divorce that is equitable in the context of all of the facts and conditions. The entitlement to obtaining a fair division of assets upon divorce that were accumulated throughout one's marriage. Equitable does not always imply equality (50/50), even in community property states.
Equity
The market worth of a house minus the amount debts or liens that must be settled whenever the house is sold.
Escrow Credit
Payment made for certain repair expenses or closing fees. Either the seller or the buyer may make such payment for a debt or charge on the closing statement owed by either party, whether customary or not, upon mutual agreement. Real estate escrow credits are incorporated into the contract and do not affect the agreed-upon selling value of the property.
Evidence
Documentation and testimony that confirms or refutes information before a court of law.
Ex Parte
Refers to a scenario in which only one party benefits from it. When one spouse is unable or unwilling to be present at the divorce proceedings, an ex parte divorce is granted.
Ex Parte Communication
An oral or written communication with a judge in which the other party or their attorney are not included. It may also refer to contact between one attorney and the other party in the absence of the opposing side's counsel. When it comes to a CDRE, ex parte communication occurs when an agent communicates with just one spouse about a case relevant matter, excluding the other spouse.
Fair Market Value/FMV
The fair market value (FMV) of a property is the amount that purchasers are willing to pay for it when offered for sale to the public, on the open market. This amount may be different than a tax assessor’s value, or an bank appraiser, which are often based on historical sales in the area.
Fannie Mae
Acronym for Federal National Mortgage Corporation. Fannie Mae was started in 1938 by the US government, but is now a publicly traded entity. It purchases and guarantees mortgages from major retail banks through the secondary mortgage market. This assists low- to moderate-income borrowers obtain mortgages. For more information visit: Home | Fannie Mae
FHA Loan
A loan insured by the Federal Housing Administration known for allowing lower down payments, lower qualifying credit scores, bankruptcy or short sale in recent years, and higher debt to income ratios than conventional loans. Although guidelines are more lenient for this type of loan, restrictions such as: not allowing purchases in most condominium communities, more stringent property condition requirements, longer loan close times, recent changes in the loan, such as Mortgage Insurance that can never be removed if the initial down payment is less that 20%, and potentially higher closing costs, can make this a less than ideal loan for most some borrowers. For more information, visit: Conventional vs. FHA Loans: Advantages and Disadvantages (thebalance.com)
FICO Score
FICO, short for Fair Issac Corporation, creates scores that are utilized to evaluate a borrower's capacity to pay back a loan. Aggregated data from three major credit reporting agencies: Experian, Equifax, and Transunion, is evaluated by FICO to create scores to determine creditworthiness and credit risk. Information obtained and taken into consideration from these agencies when Fico is determining creditworthiness may include types of credit utilized, payment history, debt level, length of credit history, and the number of new credit accounts created. A different FICO score is created for data based on each of the agencies and, additionally, the purpose for which the credit is being used. For example, a FICO score based on the data obtained from Experian will be different if being evaluated for a credit card, vs a car loan, vs a home mortgage. Free credit reports can be obtained annually at AnnualCreditReport.com The most accurate and comprehensive look at FICO scores can be obtained at MyFico.com
Fiduciary Duty
One's duty to act in someone else's best interests. A real estate agent's fiduciary duty, for example, usually entails acting in the best interest of the client while selling or buying a property. Each case calls for agents to exhibit a level of skill, ethical behavior, and integrity, along with attentiveness, sincerity, and commitment.
Final Declaration of Disclosure/FDD/FDOD
The last inventory of assets and debts that needs to be presented to the court whenever a divorce proceeding is completed or near to completion.
FLARPL
FLARPL (Family Law Attorney’s Real Property Lien) is a claim made against the owned community property for the purpose of guaranteeing payment for the fees due to the attorney in the case, such as in a divorce.
FMR/FMRV
FMR (Fair Market Rent), or FMRV (Fair Market Rental Value), is the assessment of the property's rental value when the property of offered to the public/on the open market. The property owner or their Realtor may estimate fair market value, but HUD also calculates and publishes a list.
Forbearance (Mortgage)
An arrangement between the lender and borrower that allows the borrower to postpone mortgage payments for a time period, often due to a temporary financial hardship of the borrower, such as job loss. Although forbearance can provide temporary needed relief to borrower and even assist in avoiding and/or delaying foreclosure, negative effects of forbearance can include: negative affect on borrower’s credit, higher loan balance due to interest from missed payments being added to loan principle, and higher monthly payment amounts in effect at he end of forbearance period.
Force Majeure
A contract clause which releases the parties from their obligation or liability if an unforeseen event occurs that cannot be controlled. This can either come in the form of natural disasters, man-made catastrophes, and/or your own negligence on behalf of you and your party.
Freddie Mac
The abbreviated term that refers to the Federal Home Loan Mortgage Corporation. Freddie Mac assists individuals on a low- to moderate-income get their own house through government backed loans. The enterprise buys mortgages from small banks and then sells them for a profit via the secondary mortgage market. For mor information, visit: Freddie Mac - We Make Home Possible
GAL / Guardian ad Litem
A person who steps in to act for an incapacitated person or child. They are appointed by the court.
HERO / Home Energy Renovation Opportunity
The HERO loan program focuses on assisting homeowners in making modifications to their houses for the purpose of improving energy and water efficiency. HERO loans are linked to the mortgage in the form of a tax lien, so any remaining amount must be paid up at the time of sale or transferred to the next homeowner. A HERO loan is one of the many kinds of PACE loans. For more information, visit: PACE Energy Efficiency Loans: Good Intentions, Big Risks for Consumers - National Consumer Law Center (nclc.org)
I&E
Income and expense declaration.
Ilumni Institute
An organization devoted to educating real estate professionals on how to assist divorcing couples and family law attorneys via the efficient administration of divorce real estate transactions. Realtors who have finished the CDRE training program are awarded the Certified Divorce Real Estate Expert (CDRE) certification by the Ilumni Institute. For more information, visit: The Ilumni Institute - Divorce Real Estate Certification and Education for Realtors
Interrogatories
Written queries that must be addressed in writing and sworn to by the opposing party as an element of the discovery process.
IRMO (In Regard to the Marriage Of)
An abbreviation often used in the captions or subtitles of divorce orders and other legal documents, particularly if they are handwritten.
Joinder
Multiple parties coming together on the same side of a single case (joinder of parties), or the process of merging two or more causes into a single lawsuit ( joinder of actions).
Joint Legal Custody
When a child’s parents equally share the rights, and are responsible for, making important decisions regarding the child’s wellbeing. This generally includes education, religious, and medical issues.
Joint Physical Custody
When a child’s custody and physical care are shared by both parents. Although the child can spend time with both parents, the amount of time shared between parents may vary depending on various factors.
Judge
An official who works in a court to settle legal issues.
Judgment
The ultimate decision of the court.
Judgment of Divorce
A divorce decree is an official ruling/document that grants (and outlines the conditions for) a divorce. This document shows the decisions made by the Court regarding child support, custody, alimony, visitation, and equitable distribution. If the parties reach an out-of-court settlement, the Judgment of Divorce will incorporate all of the provisions of the Settlement Agreement as part of the judgment.
Legal Custody
The right to make critical choices regarding a child's upbringing. These may include decisions about the child’s education, health care, religious practices, general welfare, and other matters.
Legal Ethics/Attorney’s Ethics
A set of rules that every attorney must follow, particularly while representing clients. For more information, visit: Ethics (ca.gov)
Legal Separation : A legal separation allows an individual and their spouse or domestic partner to terminate their relationship while remaining legally married or partnered. They can obtain court decisions on matters such as child custody and financial support. This is granted via a Court Order.
Lien
A debt-securing claim made against a property. Types of liens can include HOA liens, judgements from legal actions, mechanics liens (implemented by remodelers or contractors), and tax liens. Liens are removed when the lien holder acknowledges repayment and removes the documented lien. For more information, visit: Types of Property Liens | Nolo
Limited Scope Representation
Whenever an attorney serves a client for just a portion of a legal case, vs throughout the case. For more information and examples, visit: Limited-Scope Representation - getting_started_selfhelp (ca.gov)
Lis Pendens
A pending legal action or notice of such. In real estate matters, a lis pendens is often a legal document that disputes the ownership/title of a piece of real estate or tries to develop a claimed ownership interest in it.
Listing Agent
A real estate agent who represents the best interests (has a fiduciary duty) of the property owner(s) in the sale of their real estate/house.
Loan Modification
A change to the original mortgage terms. A loan modification is typically sought by a borrower who is experiencing financial difficulties and looking for a more feasible way to pay back the loan. Although loan modifications can provide great relief during financial hardship, some negative impacts of loan modifications may include: a negative impact on a borrower's credit score, delayed increased payments, and/or additional interest paid over the live of the loan.
Mandatory Settlement Conference/MSC
A gathering that all parties involved in a case have to attend in order to examine potential settlement alternatives.
Marital property
Usually referring to all property that was bought throughout a marriage.
Marital settlement agreement
In the event of a divorce, legal separation, or annulment, a document known as the marital settlement agreement is often signed. It contains specifics on how certain matters will be addressed in your particular situation. It is often utilized if there are complex issues to resolve, like the division of property or the determination of child custody.
Mediation
A type of Alternative Dispute Resolution (ADR) where arguments are solved without going to trial. Mediation involves the employment of an unbiased third party, typically trained in special communication and negotiation skills, who tries to bring the opposing sides together in mutual agreement without resorting to a formal courtroom proceeding.
MLS (Multiple Listing Service)
The MLS is a regional list of homes currently for sale by sellers represented by cooperating Realtors. The MLS is widely regarded as more reliable and up-to-date compared to public websites, such as like Zillow or Realtor.com, which may have outdated or delayed information.
Mortgagee
The lending entity or institution who provides collateral/funds for the purpose of buying real estate/a house.
Mortgagor
The borrower. The person or entity who takes out a loan to buy real estate/ a house.
Motion/RFO/OSC
Different types of requests to the court for a judgment on a legal issue. RFO stands for Request for Orders, while OSC is for Order to Show Cause.
Negative Amortization
Some mortgages/home loans have a feature called negative amortization. In this type of loan, the minimum payment allowed by the lender is lower than the interest accrued on the loan. In this case, if only the minimum allowed payment is made, the home’s loan balance will increase over time. The loan principle is not reduced and additional interest is added to the principal balance of your mortgage. For more information, visit: How Does Negative Amortization on a Mortgage Work? - The Mortgage Professor (mtgprofessor.com)
Nesting
When a child/children remain living in the family house while their parents move in and out, taking occupancy in turns.
Net Proceeds
The money you receive from a sale. In the sale of real estate/your house, it is typically what is left over after paying for existing mortgages, closing costs, taxes, and commissions.
Non-custodial Parent
The parent who has no right to the physical custody of their child/children.
Non-marital Property
This is usually a property that a person owns before they get married or gets as a gift during their marriage.
Notice of Motion
A way to ask the court for support, discovery, or other relief. The Notice is accompanied by the person seeking relief's certification. On the return date of the motion, the Court usually allows attorneys to be present and speak on behalf of their clients. Clients may attend court on motion days to watch but they usually never testify. After the judge makes his decision, one of the lawyers produces an order documenting it.
Occupying Spouse/In Spouse
The person who stays as occupant of the marital house throughout a divorce or once the divorce has been concluded.
Order
A rule, direction or regulation issued by a court. A document that says what the court decided after they heard a Motion or Order to Show Cause.
Order to Show Cause
When you need to ask for help from the Court, you can file an Order to Show Cause. If there is a threat that money will be taken away or a child will be taken out of the state, then it might be time to file an order.
Out-spouse/Non-occupying Spouse
The person who relocates out of the marital house upon the divorcing couple’s election to separate.
P&I / Principal and Interest
The principal is the balance of the amount borrowed on a loan. Interest is the ongoing fee charged by the lender for the service of lending the borrowed amount. Interest is usually a percentage of the remaining loan balance.
P&L / Profit and Loss Statement
An accounting document that outlines the financial information of a company. The amount of information included in a profit and loss statement may give an auditor a reasonably clear picture of the health of a company.
P&L/Profit and Loss Statement, Audited
A profit and loss statement that has been carefully examined for mistakes and disinformation by a professional certified public accountant (CPA).
PACE
Property Assessed Clean Energy (PACE) programs are a series of loans for clean energy. The loan is attached to the mortgage and it needs to be paid off when you sell your house or passed on if you sell it. For more information, visit: Pros and Cons of PACE Loans: Financing for Upgrades (thebalance.com)
Party/Parties
Parties are individuals who are involved in a legal dispute. Divorce cases include two parties: the husband and wife, or both spouses (in same sex marriages), who are known as the litigants/parties.
Petitioner (also see “Plaintiff)
The person who initiates the divorce.
Physical Custody
The rights and obligations that come with having a child in your house and being accountable for their welfare and for raising them.
PITI
The total value of a mortgage payment is made up of four things: the principal, interest, taxes, and insurance. The buyer and lender both look at this when they decide if the buyer will be suitable for a loan.
Plaintiff (also see “Petitioner”)
The individual who starts legal proceeding in a case. Often referred to as a “petitioner” in family law cases. This individual initiates the filing for divorce or marriage dissolution proceedings.
Pocket Listing
A real estate listing that not marketed to the general public. It may not be marketed at all, or in some cases, is only made available to members of a private network, such as a list of past clients, investors, or a group of agents.
Preliminary Declaration of Disclosure/PDD or PDOD
At the start of a divorce process, each party is required to submit a preliminary statement of assets and debts.
Premarital Agreement/Prenuptial Agreement
A contract that you make with your future spouse before you get married. It has information about what happens to assets if the marriage ends by death or divorce.
Process Server
A person responsible for delivering court documents to a party to a lawsuit.
Pro Per (Also known as “Pro Se”)
A shortened version of "In Propria Persona". It is used to describe self-representing people/litigants who appear in court on their own behalf, without the assistance of a lawyer.
QDRO/DRO/COAP
(Qualified Domestic Relations Order/Domestic Relations Order/Court Order Acceptable for Processing)
Every one of these terms refers to court rulings that divide one spouse's pension, retirement payments, or retirement assets between the two divorcing spouses.
Quasi-Community Property
A property that was bought in a state where it would not be community property if the people lived in a different state. In California, a quasi-community property is seen as a community property.
Quitclaim Deed
A way to end someone's interest in a property. Quitclaims are often used during divorces, when one spouse gives their rights to the other person. With a quitclaim, the person giving up their claim can't do anything with the property anymore.
Res Judicata
A lawsuit that cannot be challenged again if it was successfully concluded.
Reservation of Jurisdiction
When the court keeps control over the case and can step in to resolve future disputes. The court might do this when it is not clear whether one or both of the parties will be able to follow through with what they have agreed.
Respondent
In some cases, known as “defendant”. In a divorce, it is a legal term used to refer to the individual who responds to a petition in a legal proceeding.
Restraining order
A court order that you need to obey. It might be for someone who was violent with their spouse or for a custody dispute.
Sabotage
When someone intentionally damages someone else's property or tries to stop them from getting something. For example, if a person wanted to hurt their spouse in a divorce case, they might try to make sure that the other spouse does not have enough equity in their house.
Sanction
A penalty or punishment that is intended to guarantee that the law is followed.
Schedule of Assets and Debts
A comprehensive inventory of the goods and their worth that a couple owns or owes money for.
Separate property
Usually, a property acquired by either spouse before marriage or obtained by them separately, for example via a gift or inheritance.
Separation Date
Whenever one spouse or partner believes that the marriage or partnership is over and takes the necessary steps to demonstrate this. The most frequent method is when they leave the home.
Settlement Conference
A gathering during which the parties and their attorneys try to reach a settlement before going to trial, which is often mandated by the court.
Show cause
A court order that requires an individual to attend court and provide any proof as to why the orders sought by the opposing party should not be granted or implemented.
Special Master
A person who has been assigned by the court to help with a specific problem.
Split custody. A type of custody arrangement whereby one parent takes care of one or some of the children, while the other parent takes care of the rest of the children. This arrangement is usually not seen positively by the public.
Spousal support or maintenance. Financial contributions given to assist a spouse or former spouse throughout a separation or after a divorce.
Status Quo
Maintaining the present condition of affairs.
Statutory Repair
Unavoidable maintenance that must be performed to bring a property up to an acceptable condition.
Stipulation
An agreement arranged by two or more parties and that is presented to the courts for validation. A judge will not be called upon to rule on a matter on which the parties have already reached an agreement. The judge, however, can enforce the agreement.
Temporary Restraining Order/TRO
A restraining order that is only in effect for a limited period of time, usually a few days. This is done to guarantee that parties retain a particular status until the court can decide whether or not to issue an injunction.
Termination of Marital Status
A court order that legally terminates a marriage/brings it to an end.
Title
This is the formal document that describes the method in which property ownership is maintained. For more information, visit: Common Ways To Hold Title - Lawyers Title (ltic.com)
Transmutation
The process of changing separate property into community property and vice versa.
Trial
If the parties in a case can't come to an agreement, they will have to go to a trial. The parties and their witnesses will testify and present evidence in front of the court for open questioning by the other party. Afterward, there is a decision called a judgement that is made by the Court.
Trier of Fact
The Judge.
Underwriter
A person who checks whether the borrower has good credit or not. They also check the house to make sure it is worth what the borrower says. The underwriter works for the lender, not for the home buyer.
Underwriting
The process through which a person or organization researches the individual being considered for a loan or insurance to assess risk and assumes the financial risk in exchange for a fee. Such risk is often associated with insurance, loans, or investments.
Uniform Child Custody Jurisdictional Enforcement Act/UCCJEA
A law that specifies which courts have authority over child custody disputes.
VA Loan
Veteran home loans are a kind of government loan that assists veterans in purchasing houses at advantageous interest rates with no down payment and more flexible credit requirements. Benefits can be more flexible borrower guidelines and lower or no down payment requirements. Challenges can be the more strict property condition requirements and longer closing times. The Department of Veterans Affairs insures a portion of the loans made by the VA. For more information, visit: VA Loans: Pros And Cons | Bankrate
Valuation
The process of determining the monetary value of a piece of real estate. An automated valuation system (AVM), an appraiser, or a real estate agent may all assess a property's value. Whenever a real estate agent provides a value, it is referred to as a CMA (Comparative Market Analysis) or a BPO (Broker Price Opinion).
Visitation
The time spent by a noncustodial parent with their child.
Void Marriage
A term used to denote a marriage that is not valid as a result of certain conditions.
Voir Dire
When a person who is being considered for expert witness status is being questioned to assess his or her suitability for the position.
Voluntary Settlement Conference/VSC
A voluntarily convened meeting with all parties concerned in a lawsuit with the goal of exploring various settlement possibilities.
Wage Assignment
Whenever a court order directs an employer to deduct support payments from someone's earnings. They are referred to as "attaching wages" or "garnishing earnings" in certain cases.
Zoning
Zoning is a written set of rules established by local government that tells people what they can and cannot do with their property in certain areas.
The divorce glossary will assist you in understanding the important vocabulary that is associated with your divorce proceedings. When it comes to a tough time like this, having legal representation can make a huge difference – whether you just started out or well into the process. Contacting an experienced divorce lawyer who deals exclusively with divorces would be wise because they understand how these cases work and have experience representing clients against them.
