Is Property Purchased Before Marriage Considered Separate?
One of the most complex aspects of a divorce is the division of marital assets. It will be difficult to classify the property and come to a mutual agreement without the aid of an experienced New York divorce attorney. You may be wondering, “Is property purchased before marriage considered separate?” Contact Jean M. Mahserjian, Esq., PC today to get the help you deserve.
Purchasing Property Prior to Marriage
In the event that you are thinking about acquiring property prior to your marriage, and you’re wondering how it’s going to affect you after you get married or get divorced, you should know that when you acquire the property before marriage, it is your separate property and you’re going to want to maintain it as its separate property status. If you end up titling it jointly, by the time of your divorce, it will have a marital status. That being said, that doesn’t mean you aren’t entitled to a separate property credit. To best ensure that your separate property stays separate property, in the event of your marriage or possible future divorce, you should consult with an attorney to discuss a prenuptial agreement.
What if I Bought Property During Marriage with Pre-Marital Funds?
If your spouse is claiming that they used premarital funds to acquire a condo during the marriage, then the question really is whether or not he’s entitled to what’s called a separate property credit. What you should do is consult with an attorney. You would discuss with your attorney the nature of the asset that was purchased, how it was purchased, the funds that were used to acquire that property and whether or not you think it can be traced.
To speak with our experienced Saratoga divorce attorneys, call Jean M. Mahserjian, Esq., P.C. at (888) 919-1380. We are happy to answer your questions and schedule an initial appointment at our Clifton Park office. You can also schedule an appointment by contacting us online.