Legal Question in Family Law in New York
I have been seperated for almost 10 years but not legally divorced. I live in NY and my estranged ex husband lives in Florida. My question is I'm trying to buy a house and wanted to know how I can protect my property in the event that I do file for a divorce. The down payment and closing costs are being covered by a monetary gift that my father gave me.
Any advice is appreciated.
Thank You.
2 Answers from Attorneys
If you are legally separated or have filed for divorce, you are protected - anything you buy after you properl file the separation agreement or the first papers initiating the divorce is separate property. However, to make sure you have not made a simple error that can have lasting and severe consequences you should consult with a divorce lawyer and discuss your case in detail.
The cost of the consultation will be far less than the cost of a mistake.
Money received from a gift that is used for the house is not subject to equitable distribution (ed). However, (1) you have to prove this and (2) increase in value of house is subject to ed. So, if you do not want to file for divorce at this moment, you may either have the spouse sign a statement setting forth that the house is not marital property - or make sure that you have sufficient evidence demonstrating that the purchsae of the house was the result of a gift.
Finally, upon your death your husband has a right of election (money) that may be satisfied from the purchase of your house. Therefore, I agree with David. You may want to file for a divorce or legal separation.
Mike.
Related Questions & Answers
Looking for something else?
10,200 active attorneys ready to answer your legal questions today.
Featured Attorneys
Earn additional revenue and grow your business.
