SALE OF MARITAL HOME/RESIDENCE

Oct 30, 2018

Question #77: I’m married for 4 years; my husband bought a condo just 2 weeks before marriage. My name was added on the title 1,5 years later. During last 4 years our condo got appreciation in about 130,000. We had the joint account opened before we got married and then all the time, all the payments were done from our joint account, including mortgage payments. I’m working and my pay checks go directly to our account. My question is: Can I claim an equity interest in the condo when it will be sold after the divorce?Thank you.

You do not indicate which state you are located in. In NY, which is an equitable distribution state, you should be entitled to approximately half of the value of the Condo. If you are located in the NYC metro area, please call me at 212-370-1660 to discuss mediating your divorce. The issues involved require an […]

Oct 30, 2018

Question #74: Hi, I have been married 1 year and three months. My wife is a student and does not work and make any money. After marriage I bought an apartment with substantial down payment. This was all paid for by the funds I had before marriage. I have been paying for her college education/living expenses from the last two years. If we are separated can she ask for half of what I have?

You did not mention what state you are in. In NY, and in most other states,if you used separate funds which you earned prior to the marriage and maintained the title to the apartment in your name only, the apartment would be considered separate property and not marital property and would be yours alone. The […]

Oct 30, 2018

Question #73: NYC residents: my wife ani got married 8 months ago.i had substantial assets prior to our marriage and i make about 4 times her salary. Prior to our marriage, we entered into a contract for the purchase of a home for which i paid the down-payment. In addition, after we got married, i paid the remainder on the house with the assets i had prior to our marriage. Can my wife claim that she wants half the value of the house, even though it is me who paid for it?

You did not indicate how the title to the property is held. If it is held in your name only and was paid for with funds you had prior to the marriage, it would be considered separate property and not marital property and thus she would not have any interest in it. Even if the […]

Oct 30, 2018

Question #70: I have asked by husband to leave for a while until we can figure out what we both want. We have been married for 3 years. I don’t want my children to see how miserable we are together. We built a house while we were married and everything is in my husband’s name because I stayed home for three years taking care of our children. I didn’t have an income to get credit. So everything is in his name. I wanted to know if i am entitled to our home and any savings that we have. I don’t want to move my children again. He won’t leave; he said he has too much invested in this marrage but he will not go to counseling with me to try to work things out. I am from NY and I just want to know what I am entitled to even though my name isn’t on anything. I am only working part-time now and I can not afford everything on my own. Please help me understand!

In order to properly answer your question I must know what state you are presently living in, for how long are you living there, where were you married, and where do your spouse and children live. In NY or CA ,for instance, the fact that the house or other assets acquired during the marriage are […]

Oct 30, 2018

Question #65: My daughter is currently in the process of separating from her husband. She has an 18 month old child. The divorce is her idea. Must she remain in her house with her husband until a separation document is filed or can she move in with me with her child prior to filing the documents. The current way they are living is very difficult.

Unless there is physical abuse involved, your daughter should remain with the child in the house, if she intends to request that she be granted the house to raise the child in, at least until she has a written agreement regarding the disposition of the house. I strongly recommend that your daughter seek an attorney- […]

Oct 30, 2018

Question #60: After 20 yrs of marriage and 2 children (ages 12 & 7) my husband wants a divorce. I have not worked outside the home since my 12 yr old was born. I know NYS allows 25% of my husband’s income for child support, but I would like to know if I can collect money in addition to that. Is it reasonable to expect my husband to pay the mortgage while my children and I live in the house and if so, is this usually only done until the children are 18? I also would like to receive part of his profit sharing account, stock option account and retirement account and can I receive part of the future value that will go into these accounts? Can I obtain full ownership of the house and give up my right to the retirement plan? I have no college degree and worked while he completed college and went on to get his Master Degree. Thank you.

You should receive a portion of your husband’s retirement account which was earned during the course of the marriage and some spousal support as well as child support if you will be the residential parent. The other issues regarding the house, the mortgage, and trading one interest for another will depend on either your working […]

Oct 30, 2018

Question #57: MY WIFE AND I SEPARATED A YEAR AGO,HAVE 4 CHILDREN RANGING IN AGE FROM 9 TO 17,AND HAVE BOTH NAMES ON THE DEED TO OUR HOME VALUED AT $500,000.I EARN APPROXIMATELY $230,00/YEAR,MY WIFE WORKS PART TIME EARNING $15,000/YEAR AS A TEACHING ASSISTANT. SHE GAVE UP HER CAREER TO TAKE CARE OF THE CHILDREN 18 YEARS AGO. MY QUESTIONS ARE;1. HOW WILL CHILD SUPPORT BE DETERMINED,WILL HER SALARY ENTER INTO IT.2. AM I OBLIGATED TO PROVIDE SPOUSAL SUPPORT,IF SO INDEFINETLY OR UNTIL SHE CAN BECOME FINANCIALLY INDEPENDENT.MOST IMPORTANTLY THE DISPOSITION OF THE HOUSE:IS THE MAINTENANCE AND SUPPORT OF THE HOUSE SEPARATE FROM CHILD OR SPOUSAL SUPPORT.CAN I FORCE HER TO SELL IT,OR AM I OBLIGATED TO MAINTAIN HER IN THE HOME AS CUSTODIAL PARENT UNTIL MY CHILDREN REACH LEGAL AGE.

You did not indicate which state you are located in. In New York, child support will be determined by a complex formula taking into consideration the income of both parents.The catch is that although both incomes are taken into consideration, the non-residential parent has to pay his/her share to the residential parent. Spousal support will […]

LEONARD M.WEINER, ESQ, Ph.D.

Divorcesolutions.com

Divorce Solutions