What is a Transfer of Property?
A transfer of property occurs when one party gives or sells ownership of a piece of property to another party. LawDepot’s prenuptial agreement includes an optional clause stating that the transfer of present or future property between the two parties must be evidenced in writing. If this clause was selected and Alex wanted to give ownership of his vehicle to Mary, the two would need a written contract as evidence of the transaction. Although this method requires more paperwork, it does provide more protection, as it helps to establish changes in the ownership of property between the parties.
