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.
Recent Posts
Valentine’s Day and Divorce: Why February Is a Turning Point for Couples
Valentine’s Day is often regarded as a day to celebrate love and affection, but for [...]
Divorce Filings Spike in January: What Rochester Couples Should Know
As we turn the page to a new year, many Rochester couples find themselves reconsidering [...]
Thinking About Divorce Before the Holidays? Why October Is a Crucial Month
The end of the year is a time of reflection, often filled with family gatherings, [...]
What Are The Complications Of Same-Sex NY Divorces?
New York same-sex couples have many issues to consider when separating – especially if their [...]
NY Family Law Attorney Jobs
Due to rapid growth in our matrimonial/family law department, we are recruiting attorneys who are passionate [...]
Navigating High-Asset Divorces in Rochester Tips from an Experienced Attorney
Divorce is never easy, but when it involves high-asset individuals, the challenges can feel overwhelming. [...]
Understanding Spousal Maintenance in Rochester Divorce Cases
If you’re reading this, it likely means you’re going through a divorce or thinking about [...]
Understanding Divorce and the Role of Forensic Accountants in Rochester Divorce Cases
Going through a divorce can feel overwhelming. The emotional toll, coupled with the confusion about [...]