Primarily servicing the greater New York City metropolitan area



LEONARD M.WEINER, ESQ, Ph.D.
DIVORCE SOLUTIONS
206 East 38th Street
New York, N.Y. 10016
(212) 370-1660

FINANCIAL ISSUES - MARITAL PROPERTY V. SEPARATE PROPERTY

Question #61:
After one year of marriage, my wife committed adultery and wants a divorce. We have no children. We own a house together that has no equity in it as I used a VA loan with no-money down. I understand that she has no sufficient grounds for divorce.We are selling the house, and as it turns out it will be a fairly hefty profit. Since I believe that her contribution to the marriage was minimal, being that she only paid her half of the mortgage, and I paid all other bills, and substantial home improvement costs, is there any advantage to delaying the separation agreement until after the sale of the house. Certainly she's entitled to some money, but I really don't want to give her half of the profit. It doesn't seem very equitable to me. What should I do?
Answer:
You did not indicate what state you were located in. In New York,which is an "equitable distribution" state, assuming you acquired the house after your marriage, your spouse would be entitled to half the net profits from the sale. You may, however, be entitled to compensation for your separate contribution of home improvement costs and other moneys invested by you in the equity of the house. I strongly suggest you consider divorce mediation to resolve these and other matters outstanding (e.g. spousal support, division of other marital assets such as retirement accounts, etc.). If you are located in the New York City metropolitan area, please call me at 212-370-1660 to discuss further.
Leonard M. Weiner, Esq./Divorce Solutions
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