If you owned your home before Marriage, it is possible that you are going to retain that home as your separate property after Divorce. It will depend on how the title was held to the property during the marriage. If you transferred title to your spouse, the court might determine that you gifted all or a portion of the equity to your spouse.
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If you kept the house in your name, the court will determine whether or not there was any appreciation in the value of your house. If there was appreciation in value, that appreciation can be marital or separate property. If the house appreciated in value solely due to market forces, you will retain the value of the appreciation, as well as the original value. If the property or equity appreciated due to improvements and financial contributions to the property, the appreciation may be deemed to be marital property. This marital property will be divided by the court.
This informational blog post was provided by Jean Mahserjian, an experienced New York Divorce Lawyer.
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