Legal Question in Family Law in New Jersey
Asset Settlement
19 yrs marriage 4 children, 15 to 23, all still at home, He wants out. Prior to marriage, husband & his mom purchased our home with a loan from a relative, $20,000 which I'm told is still owed, the family member is deceased. My mother-in-law signed over the deed to me a few yrs later after our marriage. The home appraised at 110,000 now has a mtg in our name of 57,000 and 2nd mtg at 7,000. For settlement he offered this: I do not have an income, due to a long term illness thru out my life, I am to sign over the deed in return he would permit me to live in the home for 5 yrs (approx. time for kids to move on)pay only utilties, he would pay all mtg payments. After 5 yrs I am to leave premises and he would pay me 10,000. My share of the house. I understand I cannot pay for mtg. but I will aquire money somehow to live on at a point in my life. I just feel after 19 yrs what will I have? Nothing! He keeps telling me its the best thing for me, where can I go live for free for 5 years. Daily I am pressured to sign these papers, and as you can guess I have no money for an attorney. So if you would please help give me direction in my situation. Is he ''really helping'' me? Thank you for listening.
3 Answers from Attorneys
Re: Asset Settlement
He is definitely not helping you; he is only helping himself. You are about to be taken advantage of, if you let him. Your situation is very complicated and does not lend itself to a simple answer. However, you need to realize that you will not be left without resources. After 19 years, not only are you entitled to at least half of all of your joint assets, but it appears that you may also be entitled to alimony. You need to get immediate legal advice. Do not sign anything or make any moves without first speaking with an attorney, either me or someone else. Feel free to call me at 856-546-8010. Mention LawGuru and your first consultation is free. Good luck! Rob Gleaner
Re: Asset Settlement
hi -
it sounds like you may be entitled to permanent alimony as well as equitable distribution of the marital assets (e.g., house). also, you are eligible for child support for the unemancipated kids. you should probably talk to a lawyer as soon as possible - it's worth a consultation fee, if someone chargs you one. feel free to call me at 609 263-0089, if you have any other questions.
good luck!!
Re: Asset Settlement
You have a complicated situation. You need legal advise. Even if you cannot borrow money from a relative, go to see a lawyer for advice. If we can be of help, call 93-808-2003. You will probably need at least $2,500 as a retainer where ever you go. If you try the local lawyer referral service, you may be able to get a reduced hourly rate. DON'T SIGN ANYTHING UNTIL YOU TALK TO A LAWYER.
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