FINANCIAL ISSUES - MARITAL PROPERTY V. SEPARATE PROPERTY
I am married 30 years and live in New York – In our marriage I purchased 2 homes – Last year, I changed the deed to my spouse’s name. I am entitled to 50-50 marital property once divorce is settled?Answer:
If the money you used to purchase the houses was from “Marital” funds, (money earned by either party during the course of the marriage, not from inheritance, gift ,etc.) the property would be considered Marital Property and generally divided equally, regardless of in whose name the property is held.
If you are living in the NYC metro area and are considering a divorce, give me a call at 212-370-1660. I can help.
Leonard Weiner, Esq.