For most couples considering divorce in Rochester, their home is their most valuable asset, but it is also a possession uniquely filled with memories and hopes.

How it is handled in the divorce is of overarching concern to both parties.

There are general rules that govern how the house is handled, in keeping with New York’s equitable distribution policy.

First, if one spouse owned the home before the marriage, it is generally considered a separate asset that that spouse keeps in the divorce.

On the other hand, if you jointly purchased the home after the marriage, it is considered marital property whose status will have to be negotiated or litigated between the parties.

In that case, one spouse typically buys the other out, or the house is sold.

Depending on market conditions and the creditworthiness of the parties involved, this can be a minor piece of the divorce or a major headache.

The attorneys at Friedman & Ranzenhofer make sure our clients’ assets are protected, and that the settlement they agree to reflects their best interests.

Call us today at 585-484-7432 for a legal consultation with an experienced Rochester divorce attorney.