Showing posts with label divorce. Show all posts
Showing posts with label divorce. Show all posts

Monday, March 8, 2021

Why the Internet is dangerous for research when it comes to property rights

Why the Internet is dangerous for research when it comes to property rights

Many questions arise each year regarding the ability of one spouse, who owns the property, to sell without the consent of the other spouse.  Prior to May 28, 1980 the ability to do this was extremely limited by the spousal rights of dower and curtesy. (Space does not permit me to go into detail here.)

 In 1980 the dower and curtesy laws were superseded by a new right called the “right to joint possession of the principal matrimonial residence.”  The statute provides, in part,

“During life every married person shall be entitled to joint possession with his or her spouse of any real property which they occupy jointly as their principal matrimonial residence and to which neither dower nor curtesy applies. One who acquires an estate or interest in real property from a person whose spouse is entitled to joint possession thereof does so subject to such right of possession, unless such right of possession has been released, extinguished or subordinated by such spouse or has been terminated by order or judgment of a court of competent jurisdiction or otherwise.”

 A recent column in the MoneyHelp.com asks “Can my husband sell our home without my permission?”  Here’s the question:

 Q. My husband and I purchased a condo before we got married in 2001 and it was placed in his name only. We got married later that year. Our marriage has been rocky for a while and seems to be getting worse. I found out my husband is trying to sell it and not give me any of the funds acquired. Can he do this? What are my legal rights?

— Worried

 Our take on this is, unfortunately, the answer addresses the wife’s concerns strictly from a property settlement point of view and did not take into account that the soon to be ex-husband cannot sell the home without the spouse’s consent based on the above statute.  It also leaves out some important facts, such as, have the parties separated or are they in the midst of a divorce action?  In the first situation, if the non-owner spouse has abandoned the property, she may have given up her right to joint possession.  In the latter, her attorney should immediately file a Notice of Lis Pendens putting any potential buyer on notice that the wife claims an interest in the property.

 Here’s the full answer to the question posed by the MoneyHelp.com reader:

 A. We’re sorry to hear about this situation.

 New Jersey is an equitable distribution state, which means that marital property is divided equitably upon divorce – or fairly.

 “Marital property” is defined as the assets and debts acquired or earned during the course of the marriage, either individually or jointly, including real property, personal property, retirement accounts and bank accounts, as well as mortgages, loans, revolving debt, and the like, said Jeralyn Lawrence, a family law attorney with Lawrence Law in Watchung.

 She said in New Jersey, property titled in the name of one spouse rather than both spouses is not enough to exclude that property from the proverbial “marital pot.”

 “By virtue of the fact that you and your husband purchased the residence together in contemplation of marriage, with the intent to live together during the marriage and enhance the marital estate, you have both acquired an interest in the marital residence in the form of equity,” she said.

 It’s also important to know the source of funding at the time you and your husband purchased the marital residence and if your name is on any mortgage, she said.

 In the event you contributed toward the purchase of the marital residence or named on the mortgage, these facts only further embolden your claim to the equity in the home, Lawrence said.

 In New Jersey, Courts recognize both financial and non-financial contributions to the upkeep, maintenance and preservation of the home when determining both party’s interest, without placing significant weight on the names in which the deed is recorded, or mortgage is held, she said.

 “Some of these relevant factors considered by the court are contributions to the utilities to maintain the home, whether improvements were made to the home utilizing marital income, whether either you or your spouse invested physical labor into the upkeep of the home, and/or what other marital efforts, if any, caused an increase in the value of the home,” she said. “If you did contribute to these efforts in some capacity, personally or financially, you have grounds to claim a portion of the equity in the residence.”

 So your husband is not entitled to any greater share of the equity in the marital residence simply because he is individually named on the deed, she said. It may be possible for him to list the residence without your consent for that reason, but he is not entitled to retain all the proceeds for the sale without providing you with your share of the equity, she said.

 A court also has the power to restrain him from listing the sale of the home without your participation and consent, Lawrence said.

Because the specifics of your case matter here, you should speak to an experienced family law attorney who can review all the details.

Email your questions to Ask@NJMoneyHelp.com.

 This story was originally published on March 3, 2021.

 NJMoneyHelp.com presents certain general financial planning principles and advice, but should never be viewed as a substitute for obtaining advice from a personal professional advisor who understands your unique individual circumstances.


We are the New Jersey title insurance agent that does it all for you. For your next commercial real estate transaction, house purchase, mortgage refinance, reverse mortgage, or home equity loan, contact us, Vested Land Services LLC. We can help!


For your real estate purchase or mortgage refinance or
if you have questions about what you see here, contact
Stephen M. Flatow, Esq.
Vested Land Services LLC
165 Passaic Avenue, Suite 101
Fairfield, NJ 07004
Tel 973-808-6130 - Fax 973-227-0645
E-mail sflatow@vested.com
@vestedland
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Thursday, April 4, 2013

"Divorce specialists" for real estate sales?

New Jersey has it all- great beaches, miles of parkway and turnpike, entertainment, you name it.  Now it seems that there are real estate brokers who specialize in sales of property where the owners are undergoing divorce.  So reports the New York Times.

[L]urking with quiet devastation behind many “for sale” signs is the big, sad shift that almost always requires that somebody move out: divorce.
For real estate agents and brokers, deals that spring from divorce are an inevitable slice of the business, and over the years, many find themselves gathering answers to questions they hoped never to ask.
How does one represent two people who won’t speak to each other? How does an agent show an apartment that has been divided by awkwardly placed locks or temporary walls? And what if your client’s highest priority is making sure their former partner does not come out ahead?
Two real estate brokers in Livingston, New Jersey, not far from our office in Fairfield, believe they have built-up an expertise in divorce sales.
“We specialize in it,” said Vicki Stout, an agent at Keller Williams Suburban Realty in Livingston, N.J., who proclaims herself to be a “divorce specialist.”
“But it is hard to advertise,” added Bob Bailey-Lemansky, her business partner. “No one is going to go to our Facebook page and ‘like’ divorce.”
Read more here.

For your next commercial real estate transaction, house purchase, mortgage refinance, reverse mortgage, or home equity loan, contact us. We can help. We are the title insurance agent that does it all for you.

For your next title order or
if you have questions about what you see here, contact
Stephen M. Flatow, Esq.
Vested Land Services LLC
165 Passaic Avenue, Suite 101
Fairfield, NJ 07004
Tel 973-808-6130 - Fax 973-227-0645
E-mail sflatow AT vested.com
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