Dividing Marital Property Nyc

Summary

In NYC, marital property, including a house bought in cash but with both names on the deed, is typically divided equitably during a divorce. Factors such as contributions to the purchase, the length of the marriage, and financial circumstances are considered. Consult a local family lawyer for detailed advice.

Full Conversation

My husband and I are getting divorced he bought our house in cash but both of our names were put on the deed when it was purchased how does this effect splitting the house
Hello Emily, typically, if both names are on the deed, you both have an equal claim to the house. However, divorce laws vary by location. Could you please tell me where you're located?
we live in NYC
In NYC:
- The property is considered "marital property."
- It is usually divided equitably among both parties regardless of whose name is on the deed.
- Factors like contribution to the purchase, marriage length, and financial circumstances are considered.
- Consult a local family lawyer for detailed advice.
If my husband paid for the house cash but my name is on the deed too can he get all of the house?
In NYC, the fact that your husband paid in cash does not automatically give him full rights to the house. As mentioned, marital property is typically divided equitably. It's crucial to consult a local family lawyer for more detailed advice.