FINANCIAL ISSUES - MARITAL PROPERTY V. SEPARATE PROPERTY
Hi, I have a question regarding financial issues and would like to know if you can help me with. My husband and I have been married for over 5 years but no children. We live in NY. During our marriage we have had too many fights and I can't take it anymore. I have been working full-time through the entire marriage, but my husband makes about 10 times more than I do. We purchased an apartment together AFTER our marriage, and it is under both of our names. BUT, my husband says that if I want a divorce, he will not give me any shares of the apt. He had an apt prior to our marriage (not in my name), and sold it in order to buy this apt. He claims that he contributed much more money to the down payment and mortgage than me, and therefore I will not be granted half of the apt. However, I do contribute to the monthly maintenance (about 1/3 of the monthly mortgage payment), as well as many of our household expenses. My question is: will I be granted half of the market value of the apt? My husband also has stocks and bonds (some purchased after the marriage), investments in restaurants as well as real estate properties (also some after the marriage), retirement, large amount of cash reserves in saving accounts/CDs... But all accounts are under his name regardless before or after the marriage. Am I entitled half of the money/profits he earned AFTER we got married (we have no prenup)? Also, although I can support myself, once we separate or have a divorce I will not be able to afford buying an apt. Will I be granted any spousal support? Many thanks!Answer:
If you are named on the apartment, you have an equity share in it and even though your husband contributed most of the money, he in fact made a gift of it to you by putting you on the deed. You are also entitled to spousal support separate from the issue of the division of marital assets.Back to content
If you are located in the NYC metro area, please call me at 212-370-1660 to arrange for a meeting to discuss the matter at greater length.
Leonard M. Weiner, Esq./Divorce Solutions