Property Disputes During a Divorce
Property disputes can be a contentious part of a divorce. Accurately determining your stake in property is difficult even in the best of times. It can become much more challenging when the stress of divorce brings competing points of view to the calculation.
The attorneys at Donnellan Law, PLLC, will zealously advocate to get you a fair property settlement in your divorce.
Ensuring Fair Real Estate Division
One facet of property disputes is that of real property. Questions involving the fair and proper division of house(s) can be numerous. They may include:
- What is your stake in the marital house(s)? Did you contribute to the mortgage payments or any repairs or construction costs?
- Are you being offered the house in a settlement as opposed to monetary compensation? If so, should you accept it?
- How does the division of property work under New York law?
Property disputes are not limited to the marital residence, and may also include cars, furniture, valuables, and/or vacation homes in other states.
The attorneys at Donnellan Law, PLLC can help you navigate these challenging questions and concerns.
Division Must Be Equitable, Not Equal
New York divorce law states that property has to be divided equitably, not equally, which is a very important difference. Equitable division entails property being divided according to each party’s contribution toward it. This contribution could be monetary, labor and upkeep, or management of the property.
The attorneys at Donnellan Law, PLLC will work to ensure that you receive your equitable share of your property, whether that means keeping the marital home or receiving credit for your contributions to it. Important questions to consider when negotiating may include:
- Will you be left with your fair share of the property?
- Will your contributions to the household and the upkeep of the properties be acknowledged?
- Is what you are being offered something that seems good now and in the long run?
In some situations we encourage our clients to meet with a financial planner to determine a client’s long term goals and adjust the resolution of the legal matter and achieve these goals. Sometimes we utilize the services of an appraiser. This can be helpful to identify the share of businesses, professional practices, investments, retirement accounts and the tax implications of those decisions.
The attorneys at Donnellan Law, PLLC will work to reach your goals through negotiation, but, if necessary, we will litigate to help our clients secure a positive outcome for themselves and their child(ren).
Property division is often complex, and the complexity increases with the value of the assets and debts in question. At Donnellan Law, PLLC, we can help you obtain an equitable and fair share of your property. Call our office at 518-602-3820 or use our online contact form to schedule a confidential consultation.