Marital Debt Division Rules

Summary

In New York, marital property and debt, including mortgages and taxes accrued during the marriage, are generally divided equitably. This means assets and debts acquired during the marriage are typically split equally. However, the court may consider factors such as income, property, and future earnings. Debts incurred during the divorce process are usually considered marital debt, but the specifics can vary based on the divorce decree and individual circumstances. Consulting a local lawyer is advisable for personalized advice.

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Albany NY
In New York, marital property is divided equitably. This typically means:
- Assets and debts acquired during marriage are divided equally.
- The court may consider factors such as income, property, and future earnings.
- You should consult your divorce decree or consult a lawyer for specifics.
But thw debt that was acumulated during the divorce process on the house and taxes, are we splitting it equally or I am responsible for it since I had the residency primarily?
In New York, usually, debts incurred during the divorce process are considered marital debt. However, consult your divorce decree or a local lawyer for specifics. Factors such as who primarily resided in the home may affect the division.