The Marital Home
It can be difficult to know how to handle the marital home in a New York divorce case. You may want to keep it, but the expense can be overwhelming on your own. In addition, if you do keep it, you will likely have to buy out your spouse, or at least offer him or her different assets of an equal value. If you want to know the best way to proceed, you need the help of an experienced New York divorce attorney. We at
Brian D. Perskin & Associates P.C. have helped countless clients decide the best move for their family regarding the marital home.
Know Your Options
We will let you know all of your options, as well as the one we recommend for you. You need to look at all of the implications of each decision. For example, if you decide to keep the house, you will need to buy out your ex, so be sure you have the funds for this. If not, you may need to trade other assets for the house, so be prepared to part with some items you would normally like to keep. In addition, you should keep in mind all the expenses of owning a home on your own.
You may decide to sell the home so you and your spouse can cash out on this asset, dividing it fairly almost immediately. Prior to making this decision, you should go over all the costs of selling the house. For instance, you will need to pay some closing costs, taxes, and real estate agent fees. If you do not make much on the sale of the house, these expenses may come out of pocket. In fact, you may end up owing on the house, especially if you are like many homeowners with no equity.
For these reasons, you may decide to keep the house in both your names even after the divorce. You can make plans to sell it in the future, or eventually one of you can buy the other out. This decision requires the cooperation of both of you if you are to continue making payments regularly since you will have to communicate. It is best to ask for advice from your divorce lawyer before you enter into this agreement, as you need to make sure you do not get taken advantage of by a bitter ex.
Benefit from Our Expertise
We are aware of all of the most current laws regarding the marital home in New York. We realize what a big investment this is for both you and your spouse, probably the largest one you have, in fact. That's why we are committed to making sure you do not simply lose it due to one bad decision when dividing your assets.
We suggest that you find out all of your options when determining the best route to take during your New York divorce. When you need expert advice regarding the marital home from an experienced New York lawyer who has seen it all, call Brian D. Perskin & Associates P.C.