Will I Lose My House in a Divorce in New York State?
There are few assets more important to a person than their home. Unfortunately, when couples get divorced, often, only one spouse will get to keep the house. Please continue reading and reach out to our seasoned Rockland County divorce attorney to learn more about whether you’ll get to keep your house in a divorce, how property is traditionally divided in New York divorces, and how our legal team can help guide you through each step of the legal process ahead.
Who gets to keep the house during a divorce in New York State?
The first part of answering this question is whether you have a prenuptial agreement in place. If you do have a pre or postnuptial agreement, then the party who gets to keep the house is likely listed in the agreement. However, if you do not have such an agreement in place and you’re currently in a contested divorce, meaning you and your spouse can’t agree on who should keep the house, then your marital assets (your home most likely being one of them) will be subject to equitable distribution.
Essentially, in the equitable distribution process, courts will first determine what property is marital property and what property is separate property. Separate property is typically exempt from equitable distribution and includes assets such as gifts, inheritances, and other assets that spouses have obtained either prior to their marriage or outside of their marriage. Marital property, on the other hand, is property acquired during the course of the marriage. Most often, houses are considered marital property.
In this case, courts will consider a wide range of factors when determining who gets to keep certain types of marital property, including the house. Some of those factors are as follows:
- Each spouse’s yearly salary
- The standard of living established in the marriage
- The child custody agreement in place
- The extent to which each spouse contributed to the home, both financially and otherwise
- Any other factor the court deems relevant
While keeping your concerns and goals in mind, our legal team at Jameson Family Law will work toward the best possible outcome for your divorce. If you want to keep your home, we will fight, tooth and nail, for you to keep your home. We have worked with countless clients through divorce-related matters and are confident in our ability to provide helpful and responsible services. We are ready to begin this journey with you.
Contact Our Rockland County Family Law Firm
If you are faced with a family law matter in Rockland County, contact The Law Office of Peter L. Jameson, PLLC today to schedule a consultation.