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 […]
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