Legal Question in Family Law in New York

My husband and I are getting a divorce and have agreed on all of the terms of our divorce. We have no children and only one piece of real estate, our marital home. He acknowledges that I have a far greater share of the interest in the home, but wants to make sure he gets the interest that he put into it back, and thus far has been pushing for us to sell the home. However, I would rather not sell it and instead would like to just buy his interest from him if that is possible.

So I was wondering if someone could answer me: can I "buy" his interest from him and how would I go about doing that if we were to agree on that? If we are unable to agree on its disposition and have to go to trial, could the court order me to sell the real estate or would I be granted an opportunity to buy his interest from him?


Asked on 5/15/10, 3:10 pm

1 Answer from Attorneys
Stefanie Devery The Devery Law Group. P.C.

You cannot technically "buy" his interest; you will need to refinance the home into your name only. A refinance will allow you to get him off of the mortgage and the deed. Then the house will be yours completely. You will be solely responsible for the home.

All of the logistics of this type of transaction can be handled by your Matrimonial attorney; however, you will need to apply for a mortgage and complete that transaction.

A refinance is usually a pretty easy process to get started. Good luck to you.

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Answered on 5/20/10, 4:19 pm


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