FINANCIAL ISSUES - MARITAL PROPERTY V. SEPARATE PROPERTY
I owned 50% of my house prior to marriage. The remaining 50% was transferred to me as a gift. If I was to get a divorce now, will the second 50% be considered marital property? There is no co-mingling of marital funds in paying for the upkeep of the house, so her contribution is zero. Additionally, both of us reside in the house now. Will she have any legal right to my house? Additionally, I brought another property during the marriage. Again no co-mingling of marital funds involved and is under my name only. Does she have any legal claim to the second property? I am in NYC. Thanks for your time.Answer:
Any property you acquired prior to the marriage and kept in your name is separate property and not subject to any claim by your spouse. Any gift you received during the marriage which is kept in a separate account or held in your name only is also separate property and not subject to a claim by your spouse. Therefore, the house you acquired a 50% interest in prior to the marriage and the gift of the balance of 50% of the property if kept in your name only, is separate property and not marital property.Back to content
If the second property you purchased during the marriage was purchased with funds you had prior to the marriage or with funds received as a gift and title is kept in your name only, it would be separate property. If ,however, the funds used to purchase the property were earned during the course of the marriage, the property would be marital property and subject to a claim by your spouse.
I strongly urge you to contact me at 212 370-1660 to discuss mediating your divorce. It will be faster, less expensive, and less traumatic for both of you.
Leonard M. Weiner, Esq./Divorce Solutions