An Affidavit of Consideration is a legal document signed by both spouses in front of a witness after a divorce. The Affidavit of Consideration certifies that property, once held by the couple together, is being transferred to one of the spouses. An Affidavit of Consideration signed by both husband and wife would transfer property to one of the spouses.
An Affidavit of Consideration is important because, in a divorce, property must be divided between the husband and wife. This division of property can be done by the two themselves, if they are able to agree on how items should be divided up.
The Affidavit of Consideration form is an important way to split the property between a husband and wife during divorce proceedings. Property that is divided between spouses is listed on the Affidavit of Consideration, making all transfers of property clear and no confusion as to ownership.
Before signing an Affidavit of Consideration, it is important that both parties consult with their attorneys to ensure the Consideration Affidavit document preserves everyone’s best interest.