Legal Question in Family Law in New Jersey
Property distribution
The home in which I live was purchased during my marriage. Due to credit issues my husband could not be included in the mortgage thus the title and initial mortgage were in my name alone. We paid off the mortgage with a home equity line of credit in both our names. The title was never chaged over and remains in my name alone. My husband is unemployed at this time- I am employed full time. In the event of a divorce what are my rights in regards to keeping the property or maintaining occupancy as he has no means of paying the monthly loan payment or an adequate credit rating that would enable him to obtain independent financing?
2 Answers from Attorneys
Re: Property distribution
Your property is marital property, since it was purchased during the marriage and served as a marital residence. It is subject to equitable distribution. However, "equitable" does not necessarily mean 50/50. A Court may very well determine that a different split [60/40? 70/30?] is equitable. On the other hand, under the circumstance you have described, you may be required to pay him alimony. However, I cannot give you a definitive answer without hearing many more facts and circumstances. You must keep in mind that this advice is based purely on the little bit of information that you have given to me. There certainly will be factors that would change my opinion. Further, no one can rely on advice from an attorney who has not been retained. If you have not retained an attorney, before you take any action, you should contact an attorney (either me or someone else) to discuss your matter in more detail. Only then will you be able to rely on the advice. I will be happy to assist you. However, you need to call me at 856-546-8010. If you mention Law Guru, there will be no charge for your first consultation. Good luck! Rob Gleaner
Re: Property distribution
Real estate acquired during a marriage is subject to equitable distribution in a divorce no matter who name is on the deed, husband and wife or husband or wife. 800 273 7933