SALE OF MARITAL HOME/RESIDENCE

Oct 30, 2018

Question #139:My husband and I have been married for 10 years. We live in Manhattan, New York City, and have 2 children, ages 5 and 7. I have been the main provider for the family and make about $80,000 a year. My husband makes about $20,000 a year. During our marriage he completed a Ph.D. while I worked full time, and had promised to contribute more after finishing, but 4 years later, he has not got a better paying job. We bought a coop apartment that is worth about $400,000 more now than when we bought it. My family gave us the money for the down payment and I have made all the mortgage payments since, but both our names are on the papers. My family also gave us about $40,000 in stocks that we have had to sell. We have no money in savings. We now both want to get separated or divorced, and my husband wants to sell the apartment and divide up the profit equally. I do not want to move and would not be able to afford a similar place to move with the children, who would certainly stay with me. Renting a similar place would cost about twice as much as I am paying monthly, and would be a waste of all the profits from the house in my opinion. I would be willing to refinance the apartment and give him money to get himself started, but not $200,000 and I think he will not agree to that. Would I be forced to sell my apartment?

Since the property is registered in both names, your husband will have a claim to a share of the property, unless you can prove that the money given to you by her parents was given to you only and not to him. Since the property is held in both names, however, the presumption is that […]

Oct 30, 2018

Question #136: My husband and i have been married for 7 months and are already discussing divorce. Clearly we should not be married to each other. My question is His parents offered to help us by paying for the wedding or by getting us into a house. We opted for the house, and it was purchased . The mortgage is in his parents name as well as his. I was led to believe that once we were married that my name would be added to the deed, it in the has not been added. I changed my mind about having children(dont want to)and that is why we are discussing the idea. I have contributed to half of the financial responsibility, but am not on the deed. Should i stop contributing? The insurance policy however lists me as primary insured. I have been contributing half of the payments to the mortgage even though my name is not on the deed. I am wondering if i have any entitlement to the property. We have made improvements to the house during our engagement and were led to believe that the house downpayment was a “wedding gift”. Who gives a gift to just the groom? Anyway the house has increased in value, if we sell am i entitled to the money at all, only the increased value, or to all of it or none of it?

The fact that you were not listed on the deed indicates that the property was a gift to your husband and not to you despite what you may have been told or promised. As such, you do not have an equity interest in the property. However, if you have been contributing to its upkeep and […]

Oct 30, 2018

Question #118: My wife and I separated and divorced about 12 years ago (uncontested). While married we purchased a co-op apartment in Brooklyn N.Y. After moving into the apartment for about two years she moved out taking our two small children with her (paying child support), She was having an affair. I remained in the apartment assuming all financial responsibilities. About a year ago I moved to Connecticut for job purposes since I lost my job in New York city. I decided to sell my apartment and found a buyer willing to pay me a good amount. My former wife never expressed any interest in the property, never paid towards the mortgage or maintenance, or any upkeep. I informed her that I would need her to approve the sale since her name is still on the documents. While I was looking for a buyer she never expressed her opinion, never said she would not sign and so on. Suddenly she gets an attorney who is demanding 50% of the net proceeds. I am about to lose the buyers because of her actions I offered her $25,000 she is demanding at least $50,000 half of the net sale price. I am hoping I can still sell the apartment and then sue her for her share of the costs which is about $55,000. In summary she lived in the apartment for about two years, after she moved out in 1990 she never made any payments for 13 years. Please any advice that you can give me would be greatly appreciated. Thank You

If your Separation Agreement were drafted properly by a competent and experienced attorney, you should have a provision in it which discusses the ownership rights to the apartment, and when and if it is sold, how the proceeds will be divided. By maintaining her name on the ownership of such apartment, she has a legal […]

Oct 30, 2018

Question #111:My husband and I have been married for five years. He has owned the house we are living in for the past 18 years. One year ago he placed my name on the deed and we refinanced the house. I am the sole mortgage holder and money that was borrowed was put into a joint bank account. My husband now wants a divorce. Am I entitled to half the house as well as half the money in the joint account?

If you are named as one of the owners on the deed as a joint tenant or tenant in common, and you signed the mortgage, in the event of a divorce you should be entitled to one-half of the house plus one-half of the joint account. If you are located in the New York City […]

Oct 30, 2018

Question #110:My fiance and I reside in NYS. My name is NOT currently on the deed…he bought the home before we met (though I am paying a portion of the mortgage). We’re getting married next year, for some reason we get a divorce, do I automatically get 1/2 the house because we were married or does my name HAVE to be on the deed? He and I recently had this discussion and I thought according to NYS law that as a married couple 1/2 is yours when it came to divorce…please let me know. He is however planning on adding my name to the deed. We also aren’t planning on divorce but it’s good to know the details prior to walking down the aisle!

You are absolutely right! It’s important for you to know the details prior to walking down the aisle. It’s also important for you both to consider entering into a prenuptial agreement where you would spell out your exact relationship since you are concerned about the financial ramifications in the event of separation or divorce. Since […]

Oct 30, 2018

Question #107:MY HUSBAND AND I ARE SEPARATING AFTER 16 YEARS OF MARRIAGE. WE PURCHASED A HOME 11 YEARS AGO, BOTH NAMES ARE ON THE MORTGAGE. HE IS RESPONSIBLE FOR THE MORTGAGE PAYMENTS AND I AM FOR ALL THE UTILITIES. I HAVE BEEN LOOKING INTO BUY A HOME FOR MYSELF SINCE HE DOES NOT WANT TO LEAVE THIS ONE. IF I PURCHASE PROPERTY WILL HE BE ENTITLED TO ANY PORTION OF IT. ALSO, IF I FILE A QUIT CLAIM DEED ON OUR JOINT HOME WILL I BE ENTITLED TO 1/2 THE EQUITY THAT IS IN IT. HE TOLD ME THAT HE WASN’T GIVING ME ANYTHING AND TO JUST GO!! THANK YOU KINDLY FOR YOUR RESPONSE.

You did not indicate which state you are located in, but in a community property state or an equitable distribution state such as New York, you would be entitled to approximately one-half the value of the house and your husband would not have a right to ask you to leave. If you purchased a house […]

Oct 30, 2018

Question #103:I live in New York State and have been married 15 years. My husband informed me he is leaving. We purchased a home during the marriage which has very little equity in it. We have one daughter who is 8 years old. I would like to assume the remaining mortgage and have him sign off on the deed to the house. Can he force me to sell the home? What protection do I have? What are my legal rights for keeping the house? Thank you.

If you are awarded custody of the child and are the residential parent, the courts will generally allow you to remain in the marital home with the child until the child reaches maturity (i.e. 18), at which time they may require that the house be sold and the proceeds distributed at that time. I do […]

Oct 30, 2018

Question #90:My husband and I have been married for almost three years but we have been living apart for the past 6 months. I found out he had had numerous affairs. Although we are living apart, he is still paying the rent. I pay the childcare, cable, coned bill, child medical expenses, and any other child related expenses. He makes about eight to ten thousand dollars more than I do but I am paying more expenses than he is. He occasionally buys milk, diapers, clothes, etc…for the kids but it is mostly on me. Don’t get me wrong…I am glad he is still paying the rent because I could not afford to pay it along with all of my other expenses. I believe he may be doing it to keep an upper hand on me and the apartment. It can’t continue like this. He seems perfectly happy with this situation. We got the apartment together when we were married(it’s a rental) but his name is the only name on the lease. Can I be forced out of the apartment because my name is not on the lease? He is currently living with a friend and our 1 year old twins live with me in the apartment. My husband comes and goes as he pleases because he still has a key and I am afraid to change the locks because I do not know if I can legally do it. He does spend time with the kids and I want that to continue but he has the best of both worlds. He is able to come and go as he pleases in our apartment and when he leaves at night he can do what ever he wants. The next morning it begins again. I want a divorce but he does not. What should I do? What rights do I have to the apartment and what help can I get with child care expenses?

If you are serious about improving your “limbo” situation and getting on with your life you must decide whether you want to file for divorce or not. You have children and you owe it to them if not to yourselves to try to make the marriage work. Have you tried marriage counseling? If counseling is […]

Oct 30, 2018

Question #85: I’m a 30 year old married women with 2 children. One is autistic. I do not work. I have a house with some debt and my husband has recently told me that he wants a divorce. He has said that I need to get out of our house so he can “start over”. Please help me and tell me what my rights are. I am totally involved with my children, especially my son. He is in an autistic program that requires a lot of attention which prohibits me from having any kind of decent paying job. My husband is not involved with my son at all and only sometimes spends time with our daughter. He is cheating on me and says he wants out. He now has said he will take custody of the kids too. I have so many questions, little money, and need a place to start. Help

You did not indicate which state you are residing in but in most states you would be entitled to approximately half of all your marital assets – any assets purchased during the marriage from money earned during the course of the marriage (e.g. house, car, 401K’s etc.). Since you are residing in the house with […]

Oct 30, 2018

-Question #78: I live in NY with my wife and child. We have been married for almost 5 yrs. My question is if I have money in my individual account from a sale of real estate, but the money is not mine, does she have a claim to it? The other question, if that money is going towards a purchase of a business even though it’s not my money but the business would be in my name, would she have a claim to the business.

Only money earned by either party to the marriage during the course of the marriage is “marital property”. If it is money belonging to someone else , and you can substantiate that, it should not be considered marital property and is not subject to division. It would be best if you put such funds in […]

LEONARD M.WEINER, ESQ, Ph.D.

Divorcesolutions.com

Divorce Solutions