Legal Question in Wills and Trusts in New Jersey

Hi, I live in New Jersey and I am currently engaged to be married. I own the home that

My fianc� and I currently live in (he pays half the mortgage since he moved in). We plan to sell and buy a new home together after we get married. If I put down more money on the new home, is there some type of document that would state that I would receive my portion back in the event of a divorce? (Not split 1/2 way). It's not something I am anticipating, I just want to be smart about my finances. Thank you!


Asked on 8/24/16, 2:18 pm

1 Answer from Attorneys
Walter LeVine Walter D. LeVine, Esq.

There are several ways this can be done:

1. A written agreement between you, signed and notarized, spelling out the details of the arrangement. It may or may not be recorded.

2. You could provide in the Deed for different ownership percentages (e.g., you for 60% and him for 40%) to reflect the additional funds.

3. Although unusual, you could both sign a second mortgage that covers the amount, and record it after the closing and the other documents are recorded. This might have some ramifications on the first mortgage so be careful if you do this one.

Personally, the first alternative should do it - recorded or not.

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Answered on 8/24/16, 2:27 pm


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