Is Your Real Estate Marital Property?
Real estate purchased during the marriage is marital property and, therefore, subject to division during a divorce. Even if one of you purchased a piece of property before the marriage, if you both made contributions to the property during the marriage, the court will consider those contributions when dividing assets. For example, if the owner refinances the home during the marriage and adds the spouse’s name, it becomes marital property.
What you do to the home during the marriage can be important in determining whether it is marital or nonmarital in a divorce. You need skilled guidance from the family law attorneys at Schepisi & McLaughlin, P.A. We have been serving the needs of our clients in Bergen County since 1978. We believe in responsive, attentive service to all our clients.
Dealing With The Family Home
Divorce can cause a lot of upheaval in everyone’s life. Some families try to keep things as stable as possible. For others, the goal is to start over with a clean slate. Your goals during your divorce will dictate how you feel about the family home. Perhaps you and your spouse have different goals, and one of you wants to keep the home, while the other would like to sell. One may be willing to trade the home for other assets.
Whatever your goals, we will help achieve them. If we can help negotiate an agreement with your spouse, we will. An agreement puts you in charge of your own future and the outcome of your divorce. If you cannot reach an agreement, however, our skilled trial attorneys will fight for you in court.
In New Jersey, even if you do have an agreement, you still must convince the court to approve it. For example, you may agree to sell the house and divide the equity. If you have minor children in the home, however, the court may order that you wait to sell the house until after the children have grown. We will guide you through these complex legal issues throughout the process, advocating for you to have the post-divorce future you want for your family.
Discuss Your Property Questions With Us
We are here, ready to help you through this difficult time. We offer free initial phone consultations. Call our office in Englewood Cliffs office at 201-500-8914 or send us an email. We also have an office in Manhattan for the convenience of our clients.