If you are a husband or a father going through a divorce, you’re most likely very concerned about what will happen to the family home. After all, your house may be one of the most valuable assets you own, and beyond its financial value, it may also be the place where you have raised your children and spent a considerable portion of your married life. Because of this, the thought of losing the house during a divorce can be extremely concerning. Fortunately, simply because you are a husband does not mean your wife will automatically receive the marital home. Instead, courts will consider several different factors when determining how the house should be handled as part of the equitable distribution process. Continue reading and reach out to a seasoned Staten Island divorce lawyer from Dow Divorce Law to learn more about how courts in New York determine who will get the house in a divorce and how our legal team can fight for you, every step of the way. Here are some of the questions you may have:
Is a House Considered Marital Property in New York?
Whether a house is considered marital property will depend largely on when it was purchased and how it was paid for. New York is an equitable distribution state, which means that property accumulated during a marriage is divided in a way the court considers fair, rather than automatically being split directly down the middle. A house may be considered marital property if:
- You and your wife purchased the home while you were married.
- Income earned during the marriage was used to pay the mortgage.
- Marital funds were used to renovate or substantially improve the property.
- Both spouses contributed, either financially or otherwise, to increasing the home’s value.
That being said, if you purchased your home before you were married, it may initially qualify as separate property. However, this does not necessarily mean the entire value of the house will remain yours.
For example, if you purchased the house before getting married but marital income was then used for years to pay down the mortgage or make significant improvements, your wife may potentially have a claim to a portion of the property’s increased value. Because of this, determining whether a house is entirely marital, entirely separate, or some combination of both can become one of the more complicated parts of a divorce.
What Factors Determine Who Gets the House in a New York Divorce?
There is no New York law stating that the wife automatically gets the house in a divorce. Likewise, simply because a husband earned more money or personally made the mortgage payments does not necessarily guarantee that he will receive it. Instead, courts can consider several factors, including the following:
- The length of your marriage
- You and your spouse’s respective incomes
- The value of the house and other marital assets
- Each spouse’s financial circumstances
- Whether children are currently living in the home
- Each spouse’s contributions to the marriage
- The future financial needs of each party
- Whether either spouse improperly transferred, wasted, or concealed marital assets
Can a Husband Keep the House After a Divorce?
Fortunately, the answer is often yes. Depending on your financial circumstances, the classification of the property, and the terms of your divorce, there are several ways a husband may potentially keep the marital home. Some possibilities are as follows:
- Buying out your wife’s share of the home’s equity
- Refinancing the mortgage into your own name
- Giving your spouse a larger share of another marital asset
- Establishing that some or all of the property is separate property
- Negotiating a divorce agreement that allows you to remain in the home
Of course, keeping the house is not always financially practical. In some cases, neither spouse can afford the mortgage, taxes, insurance, maintenance, and other costs associated with the property on a single income, in which case selling the home and dividing the proceeds may make the most sense.
The bottom line is that if you are a husband or father going through a divorce in New York, you should never simply assume that you have to surrender your house. Your marital home may represent years of work, significant financial equity, and an important part of your relationship with your children. Before moving out, agreeing to sell the property, or giving up your ownership interest, you should strongly consider speaking with an attorney.
If you have additional questions or are about to go through the divorce process, please don’t hesitate to contact Dow Divorce Law for an initial strategy session today.
