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Marital Real Estate

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dicamm

Junior Member
What is the name of your state? New York

I have a question, I had gotten married four years ago, and recently bought a house with my sister. My sisters and husbands credit wasnt good so I put the deed temporarily in my name and its listed on the deed (and mortgage)as my name, a married woman. We havent changed the deed to include my sister to the fifty percent. But now I am having trouble with my marriage and I want to know what legal right my husband has because his name is not on the deed specifically and I paid all costs for the house downpayment and closing. Its only six months so its minimal investment but I would like to keep the house can you tell me what options I have.

Diana
 


rmet4nzkx

Senior Member
PROPERTY DISTRIBUTION: New York is an "equitable distribution" state. Separate property, including property acquired before a marriage and any gifts or inheritances whenever acquired, is to remain with the spouse who owns it. Separate property also includes any increase in value or property acquired in exchange for separate property. Marital property acquired during the marriage will be equitably divided between the spouses, based on the following factors: (1) the contribution of each spouse to the acquisition of the marital property, including the contribution of each spouse as homemaker; (2) the value of each spouse's property at the time of the marriage and at the time of filing for divorce; (3) the probable future economic circumstances of each spouse; (4) the length of the marriage; (5) the age and health of the spouses; (6) the amount and sources of income of the spouses; (7) the present and potential earning capability of each spouse; (8) the potential loss of inheritance or pension rights upon dissolution of the marriage; (9) whether the property award is instead of or in addition to maintenance; (10) custodial provisions for the children and the need for a custodial parent to occupy the marital home; (11) the type of marital property in question (whether it is liquid or non-liquid); (12) the impossibility or difficulty of evaluating an interest in an asset such as a business, profession, or corporation and the desirability of keeping such an asset intact and free from interference by the other spouse; (13) the tax consequences to each party; (14) the wasteful dissipation of assets; (15) any transfer of property made in anticipation of divorce; (16) any equitable claim that a spouse has in marital property, including joint efforts and expenditures, and contribution and services as a spouse, parent, wage earner, and homemaker, and to the career and career potential of the other spouse; and (17) any other factor necessary to do equity and justice between the spouses. Marital fault may be considered. Financial disclosure of assets and income are mandatory. [Consolidated Laws of New York Annotated; Domestic Relations Law, Volume 8, Section 236, Part B].
 

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