Legal Question in Family Law in New York

I am getting divorced and buying out my ex-husband's half of the house. He will receive $200,000 (I'm getting a mortgage) and an additional $10,000 when I sign over our stock portfolio to him. His atty wants to put a clause in the stipulation that this is a "tax free transaction". He will not be liable to pay any taxes on the monies received and I will not be entitled to a deduction. I do not understand this or it's consequences to me in the future. I am concernced about signing this and really want it taken out unless it really has no bearing on me. THIS IS A FREE QUESTION NOT A PAID QUESTION


Asked on 9/26/09, 2:57 pm

1 Answer from Attorneys
Jacqueline Harounian Wisselman Harounian & Associates PC

If you do not have an attorney representing you, it would be a big mistake to negotiate the transfer of property in this context without expert advice. Transfer of real property can give rise to a capital gains tax or real estate transfer tax. What your husband's attorney is proposing may in fact be perfectly fine for you, but he is representing your husband, not you.

Jackie Harounian

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Answered on 10/07/09, 3:36 pm


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