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Real Property Disclosure Requirements
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In Texas divorce cases, closing documents attached refers to including documents from real estate transactions, such as deeds, settlement statements, and mortgage documents. For FM-DIV-DISC-101 disclosures, you generally need to provide bank statements, tax returns, income statements for the last 2 years, and credit card statements for 6 months to 1 year. Real property documents should include all relevant documents from purchase to present, and insurance documents should cover the last 2 years. An income statement summarizes revenue and expenses, while a tax return details income for tax purposes. A home equity LOC document includes the credit agreement and disclosure statements. HSAs managed by institutions like Fidelity are categorized as bank accounts.Full Conversation
when listing out real property within the FM-Div-Disc-*, what does it mean by closing documents attached?
Hi ****,
In Texas, "closing documents attached" typically refers to including the documents that were signed at the closing of a real estate transaction. These might include:
- Deed
- Settlement statement
- Mortgage documents
Are you preparing for a property division in a divorce?
In Texas, "closing documents attached" typically refers to including the documents that were signed at the closing of a real estate transaction. These might include:
- Deed
- Settlement statement
- Mortgage documents
Are you preparing for a property division in a divorce?
i am preparing for all related to the FM-DIV-DISC-*-Required Initial Disclousers-Divorce
Hi ****,
It sounds like you're working on the FM-DIV-DISC-* for a divorce case. In Texas, "closing documents attached" usually means attaching documents from the real estate transaction closing.
- Deed
- Settlement statement
- Mortgage documents
Are there any specific sections you're finding challenging?
It sounds like you're working on the FM-DIV-DISC-* for a divorce case. In Texas, "closing documents attached" usually means attaching documents from the real estate transaction closing.
- Deed
- Settlement statement
- Mortgage documents
Are there any specific sections you're finding challenging?
how much data is required for each, when referring to a statement? Is it 2 years, annually, or a certain number of months?
Hi ****,
For the FM-DIV-DISC-* (Required Initial Disclosures) in a Texas divorce case, when referring to financial statements and data, you generally need to provide:
- **Bank Statements:** Last 2 years.
- **Tax Returns:** Last 2 years.
- **Income Statements:** Last 2 years.
- **Credit Card Statements:** 6 months to 1 year.
Are there any other specific documents you're unsure about?
For the FM-DIV-DISC-* (Required Initial Disclosures) in a Texas divorce case, when referring to financial statements and data, you generally need to provide:
- **Bank Statements:** Last 2 years.
- **Tax Returns:** Last 2 years.
- **Income Statements:** Last 2 years.
- **Credit Card Statements:** 6 months to 1 year.
Are there any other specific documents you're unsure about?
so overall, we are just sharing this with our spouse, none of this is turned over to court. Court did not mention turning this in
Hi ****,
In Texas, even if the court hasn't specifically mentioned turning in these documents, it's important to ensure that all required initial disclosures in a divorce are shared with your spouse. This helps maintain transparency and comply with legal requirements.
Are you concerned about any specific document or have questions about the process?
In Texas, even if the court hasn't specifically mentioned turning in these documents, it's important to ensure that all required initial disclosures in a divorce are shared with your spouse. This helps maintain transparency and comply with legal requirements.
Are you concerned about any specific document or have questions about the process?
I am trying to understand bank statements for two years, and how long of data is needed for real property, insurance, etc?
Hi ****,
For the FM-DIV-DISC-* (Required Initial Disclosures) in a Texas divorce case:
- **Bank Statements:** Last 2 years.
- **Tax Returns:** Last 2 years.
- **Income Statements:** Last 2 years.
- **Credit Card Statements:** 6 months to 1 year.
- **Real Property Documents:** All relevant documents from purchase to present.
- **Insurance Documents:** Policy documents and statements for the last 2 years.
Do you need more information on any specific document?
For the FM-DIV-DISC-* (Required Initial Disclosures) in a Texas divorce case:
- **Bank Statements:** Last 2 years.
- **Tax Returns:** Last 2 years.
- **Income Statements:** Last 2 years.
- **Credit Card Statements:** 6 months to 1 year.
- **Real Property Documents:** All relevant documents from purchase to present.
- **Insurance Documents:** Policy documents and statements for the last 2 years.
Do you need more information on any specific document?
difference between income statement and tax return
Hi ****,
An income statement and a tax return are different financial documents:
- **Income Statement:** Summarizes revenue, expenses, and profit/loss over a specific period (usually a fiscal quarter or year).
- **Tax Return:** Filed with tax authorities, detailing income, expenses, and other tax-related information for calculating tax liability.
Do you need more information on either document or how to prepare them for your disclosure?
An income statement and a tax return are different financial documents:
- **Income Statement:** Summarizes revenue, expenses, and profit/loss over a specific period (usually a fiscal quarter or year).
- **Tax Return:** Filed with tax authorities, detailing income, expenses, and other tax-related information for calculating tax liability.
Do you need more information on either document or how to prepare them for your disclosure?
details on the difference
Hi ****,
Here's a concise comparison between an income statement and a tax return:
- **Income Statement:**
- Summarizes revenue, expenses, and profit/loss over a specific period.
- Used internally by businesses to assess performance.
- **Tax Return:**
- Filed with tax authorities.
- Details income, expenses, and other tax-related info for calculating tax liability.
Do you need more details on preparing these documents for your disclosure?
Here's a concise comparison between an income statement and a tax return:
- **Income Statement:**
- Summarizes revenue, expenses, and profit/loss over a specific period.
- Used internally by businesses to assess performance.
- **Tax Return:**
- Filed with tax authorities.
- Details income, expenses, and other tax-related info for calculating tax liability.
Do you need more details on preparing these documents for your disclosure?
what is a home equity LOC document?
Hi ****,
A home equity LOC (Line of Credit) document refers to the paperwork related to a line of credit secured by the equity in your home. This typically includes:
- **Credit Agreement:** Terms and conditions of the line of credit.
- **Mortgage or Deed of Trust:** Security interest in the property.
- **Disclosure Statements:** Details about fees, interest rates, and repayment terms.
Do you need more details on a specific part of this document?
A home equity LOC (Line of Credit) document refers to the paperwork related to a line of credit secured by the equity in your home. This typically includes:
- **Credit Agreement:** Terms and conditions of the line of credit.
- **Mortgage or Deed of Trust:** Security interest in the property.
- **Disclosure Statements:** Details about fees, interest rates, and repayment terms.
Do you need more details on a specific part of this document?
wouldn't it be within the mortgage statement, or I would need the original statement on how much they offered for a LOC when getting the property?
Hi ****,
For a Home Equity Line of Credit (HELOC), the necessary documents might include the original credit agreement and any statements showing the terms offered at the time of obtaining the LOC. These documents are usually separate from the mortgage statement.
Do you need help locating these documents or understanding their details?
For a Home Equity Line of Credit (HELOC), the necessary documents might include the original credit agreement and any statements showing the terms offered at the time of obtaining the LOC. These documents are usually separate from the mortgage statement.
Do you need help locating these documents or understanding their details?
locating
Hi ****,
To locate your Home Equity Line of Credit (HELOC) documents, consider these steps:
- **Contact Your Lender:** Ask for copies of the original credit agreement and any related disclosure statements.
- **Review Closing Documents:** Check any documents provided at the closing of your real estate transaction.
- **Check Online Banking:** Many lenders provide access to statements and agreements through their online portals.
Would you like more detailed guidance on any of these steps?
To locate your Home Equity Line of Credit (HELOC) documents, consider these steps:
- **Contact Your Lender:** Ask for copies of the original credit agreement and any related disclosure statements.
- **Review Closing Documents:** Check any documents provided at the closing of your real estate transaction.
- **Check Online Banking:** Many lenders provide access to statements and agreements through their online portals.
Would you like more detailed guidance on any of these steps?
If I financed the home, I would not then need lease documents correct?
Hi ****,
Correct, if you financed the home and you are the owner, you would not need lease documents. Lease documents are typically needed if you are renting out the property or if you are a tenant.
Is there anything else you need help with regarding your disclosures?
Correct, if you financed the home and you are the owner, you would not need lease documents. Lease documents are typically needed if you are renting out the property or if you are a tenant.
Is there anything else you need help with regarding your disclosures?
what is a declaration page for insurance
Hi ****,
A declaration page for insurance is a summary of your insurance policy, which includes:
- **Policyholder Information:** Name and address.
- **Coverage Details:** Types and limits of coverage.
- **Premium Amount:** Cost of the policy.
- **Policy Period:** Start and end dates of coverage.
- **Insurance Company Information:** Contact details.
Do you need help understanding any specific part of the declaration page?
A declaration page for insurance is a summary of your insurance policy, which includes:
- **Policyholder Information:** Name and address.
- **Coverage Details:** Types and limits of coverage.
- **Premium Amount:** Cost of the policy.
- **Policy Period:** Start and end dates of coverage.
- **Insurance Company Information:** Contact details.
Do you need help understanding any specific part of the declaration page?
Is an HSA considered to be under FCU
Hi ****,
To clarify your question, could you specify what you mean by "FCU"? Are you referring to a Federal Credit Union or something else? This will help me provide the most accurate information for your needs.
To clarify your question, could you specify what you mean by "FCU"? Are you referring to a Federal Credit Union or something else? This will help me provide the most accurate information for your needs.
Federal Credit Union
Hi ****,
Health Savings Accounts (HSAs) can be managed by a Federal Credit Union (FCU) if they offer such services. The funds in an HSA are typically used for medical expenses and are often held by banks, credit unions, or other financial institutions.
Is there a specific aspect of your HSA or FCU you need more information about?
Health Savings Accounts (HSAs) can be managed by a Federal Credit Union (FCU) if they offer such services. The funds in an HSA are typically used for medical expenses and are often held by banks, credit unions, or other financial institutions.
Is there a specific aspect of your HSA or FCU you need more information about?
Fidelity
Hi ****,
It looks like you're asking about Fidelity in relation to HSAs. Fidelity is one of the financial institutions that manage Health Savings Accounts (HSAs). They provide investment options for the funds in your HSA, similar to other banks or credit unions.
Are you looking for specific information about managing your HSA with Fidelity?
It looks like you're asking about Fidelity in relation to HSAs. Fidelity is one of the financial institutions that manage Health Savings Accounts (HSAs). They provide investment options for the funds in your HSA, similar to other banks or credit unions.
Are you looking for specific information about managing your HSA with Fidelity?
no is it noted as a bank acocunt
Hi ****,
Health Savings Accounts (HSAs) managed by institutions like Fidelity are typically categorized as bank accounts. They are used for medical expenses and have specific tax advantages.
Is there anything more specific you need to know about HSAs?
Health Savings Accounts (HSAs) managed by institutions like Fidelity are typically categorized as bank accounts. They are used for medical expenses and have specific tax advantages.
Is there anything more specific you need to know about HSAs?