Legal Question in Family Law in New York
Money and Home Before Marriage
I will be getting married next month. I own a condo for 4 years now and rent it out. I only have to pay $50 towards the mortgage. I also have some money I would like to protect god forbid divorce. Question: If divorce- would my condo be in jepordy and how can I protect my money. Anything else you can recomment would be helpful. Thank you.
He concerns me when it comes to money and that's why I ask.
2 Answers from Attorneys
Re: Money and Home Before Marriage
If the condo is owned by you prior to the marriage, it is not marital property and is not something that would be divided in any future divorce, absent very unusual circumstances. However, any increase in value of the condo during the marriage could under some circumstances be seen as divisible in an equitable distribution.
Money is different, and poses particular problems too complicated for discussion here.
Re: Money and Home Before Marriage
Have you considered a pre-nuptial agreement?
This would protect most of your assets.
Patricia Martin-Gibbons
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