Legal Question in Family Law in New Jersey

how to divide real estate when divorcing

We bought an apartment, it's in her name. We're looking to get divorced and are trying to figure out how to do the math for her to buy me out. We had the apt. appraised when I moved out. Do we split the earnings 50/50? Is there a formula we should use?


Asked on 1/30/08, 11:00 am

3 Answers from Attorneys

Robert Davies The Davies Law Firm, P.A.

Re: how to divide real estate when divorcing

Let me summarize:

you are in the middle of a divorce.

You may have a job. You may have a house. you may have savings, pension, credit card bills, and other things to deal with. Your spouse may have a job.

you may have a child (children), and child support and college tuition needs to be paid. That is measured in tens of thousand of dollars.

Nothing that an attorney can say over this bulletin board can come close to helping you solve your problems. Careless actions by you will likely cost you thousands of dollars, make your life more difficult, and possibly cause additional harm to the child.

Hire an attorney. Go see an experienced divorce attorney located reasonably near you, and pay the attorney to review your situation carefully with you, and give you some guidance.

If you would like, give me a call; I am in northern New Jersey. I will be happy to discuss this with you; the telephone consultation will be free.

My contact information can be obtained from the links below, just click on the Attorney Profile link. Let my secretary know you found me through LawGuru.

Disclaimer: Your question and any response does NOT create an attorney-client relationship between you and this law firm. You can not rely on the statements made by an attorney given over the internet. The exact facts of your situation, including facts which you have not mentioned in your question, may completely change the result for your situation.

Read more
Answered on 1/31/08, 12:29 pm
Gary Moore Gary Moore Attorney At Law

Re: how to divide real estate when divorcing

You stated that "we" bought an apartment which is in your wife's name. If that is the case the equity in same, as of the date of distribution, is split on a 50/50

basis.

You can make an agreement between you,

without the assistance of an attorney, but I would strongly advise that you at least consult with an attorney before prior to entering into such an agreement.

Call me if you like.

Gary Moore, Esquire

Hackensack, New Jersey

www.garymooreattorneyatlaw.com

Read more
Answered on 1/30/08, 11:09 am
Jef Henninger, Esq Law Offices of Jef Henninger, Esq.

Re: how to divide real estate when divorcing

I agree with Mr. Moore, I suggest you at least speak to an attorney before doing anything. If this is all you have, you may not need an attorney. However, there may be issues out there that you are not considering.

Read more
Answered on 1/30/08, 11:44 am


Related Questions & Answers

More Family Law, Divorce, Child Custody and Adoption questions and answers in New Jersey