With a view toward injecting some modicum of clarity into the volatile arena of NIL, a plethora of legislation has been enacted at the state level and proposed at the federal level.
Most divorces involve the transfer of a marital residence between the parties as part of equitable distribution, especially when there are minor children who will continue to reside in the family home.There is a transfer tax payable on the transfer of real estate, including the marital residence, in connection with the implementation of the marital settlement agreement or divorce.