Legal Question in Family Law in New York
dividing properties
My in-laws gave us our co-op as a wedding gift but I never put my name on the co-op after we were married. Am I entitled to half of the value of the co-op? Am I considered to be an owner of the co-op?
2 Answers from Attorneys
Re: dividing properties
If the gift was to the couple, yes, under New York's equitable distribution system, you're entitled to half of it.
Re: dividing properties
Your spouse will argue that it was a gift to him/her from his parents BEFORE you married (separate property). The fact that the shares remain solely in his name supports that.
You are not considered an owner as you are not "in title" and have no authority to sell the shares.
However, you may have an equitable interest in the shares pursuant to the Domestic Relations laws if you can prove gift to both of you.
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