FINANCIAL ISSUES - MARITAL PROPERTY V. SEPARATE PROPERTY
We own a home, am I entitled to half of the value, of the home..? When I first married her the deed was in her name from a previous marriage; since then we took out a second mortgage, and both names are on the deed. Since I contributed towards the repayment and house hold repairs, can I still claim half the value of the house. The house is in upstate NY... thank youAnswer:
Property that was acquired prior to the marriage and kept as separate property after the marriage is considered separate property and not part of the marital estate. In the case you described, it appears that the property was not kept as separate property after the marriage, but half of it was transferred to you when you took out the second mortgage. Under such circumstances, the court would consider how long the marriage is in existence, the amount of contribution you have made to the mortgage payments, and other such considerations.Back to content
If you can show that you have made considerable financial and other contributions to the upkeep and maintenance of the house, and that your wife intended to gift to you half of the property when the deed was changed, you should be entitled to 1/2 of the property.
Leonard M. Weiner, Esq./Divorce Solutions