Divorce and Real Estate

Posted By The Law Offices of Adelola Sheralynn Dow || 28-Oct-2013

The division of assets, including real estate, is an important issue in a divorce. Both parties may have owned property, and there may be property purchased during the term of the marriage. Who will get the family home? If there is a summer home, cottage, or real estate holdings, these issues become even more complex to resolve. As New York law allows for the "equitable distribution" of property, there are a number of ways that the division of real estate could be resolved, based upon the term of the marriage, the contributions of each party, and various other factors. The value of the property must be established as the initial action.

There is more to valuing property than getting a current appraisal. It is also important to investigate further, and find out if there are any pending sales, zoning changes or other matters that could greatly impact the value of the property. There can be an intermingling of funds, in which one party contributed to the upkeep or improvements to a property that was the sole property of the other, initially. All of these matters should be addressed carefully, by a professional that is very familiar with property valuation and divorce.

Once the property values are established, the division of these assets must be resolved. Both parties may wish to keep one property, and when this cannot be negotiated outside of court, the decision will be made at trial. The quality of the lawyer representing you will have much to do with the final outcome, as your lawyer is essentially your voice, and is speaking for you in court. How your case is presented, the quality of the supporting evidence, and the ability of the attorney to present a persuasive case all come into play.

Are you concerned about your real estate in a divorce? Get in touch with an attorney from The Law Offices of Adelola Sheralynn Dow. Your case will be handled directly by Ms. Dow, who has been rated by Super Lawyers. You want the best Staten Island divorce lawyer you can find, if the division of property is a matter in contention.

Categories: Divorce