FINANCIAL ISSUES - MARITAL PROPERTY V. SEPARATE PROPERTY
I live in NY and have been married for 23 years. We have just starting proceedings for a divorce and I found out that my soon ex to be took out a second mortgage on the equity of our house (yes I signed because he told me he was re-financing). Am I entitled to 1/2 and should that be put into the divorce agreement?Answer:
If the money is still liquid ( sitting in a joint account ) you should make sure your spouse cannot withdraw itBack to content
Without your consent. The best thing would be to divide it now before it “disappears”.
If it has been spent on marital matters, such as home renovations, college tuition for child, a family car, etc., you have no claim
To it . If it was spent on his personal vacation trip to Hawaii with his “buddies”, you may have a legitimate claim for half the proceeds.
Leonard M. Weiner, Esq./Divorce Solutions