Legal Question in Family Law in New York
Property bought while married
Hi Sir/Madam,
I am engaged and planning to buy an apartment (Only I am paying for the apt). There is a chance that we get married prior to buying a place.
My question is: In case of divorce, will my fiance be entitle to half of my apartment, if I buy the apt after marriage?
Thank you for your consideration and time.
Thanks,
RK
3 Answers from Attorneys
Re: Property bought while married
Whether or not you marry before acquiring the property, the safe and prudent thing to do would be to execute an ante-nuptial agreement (a "pre-nup") and to make sure that you maintain the separate character of the property going forward. You do not want to comingle separate and marital property, and you do not want your spouse to make contributions to your separate property except as provided by agreement to consitute only a gift. I stgrongly suggest you consult with a qualified attorney as soon as possible.
Re: Property bought while married
A pre-nup agreement will go a long way towards solving your problem. I would strongly consider such. You may call my office for a free consultation at 7188340087.
Re: Property bought while married
In NY, Property purchased or owned prior to marriage is presumed to be Separate Property.
Property purchased or acquired, (including but not limited to wage and other income), after marriage is presumed to be Marital Property, notwithstanding title or whose name is on the property.
Therefore, if it is not your intention to "gift" your partner, with an interest in your assets, Suggest that you keep all of your "separate property" SEPARATE, whether in or out of marriage.
Further, you might want to consider specifically identifying, in a writing (possibly a pre or post nup), what property purchased or acquired after your marriage is separate vs marital property.
Good luck,