What happens to a house owned by one party to a divorce prior to the marriage in a Monmouth County divorce?
Premarital property is generally considered separate property and is not usually subject to division.
Separate property is any property acquired by one spouse prior to the marriage, as well as any property acquired during the marriage by gift, bequest, devise, or descent.
However, the treatment of premarital property is not always straightforward.
If premarital property was commingled with marital property, it may lose its separate status and become subject to equitable distribution.
For example, if you owned a house prior to the marriage, but the mortgage payments were made from the marital bank account, "your" house may be subject to division.
Additionally, if the increase in value of your premarital house is due to the active efforts or contributions of your spouse, that increase may be subject to division.
For instance, if you owned the marital home before the marriage, but your spouse worked on the home doing physical labor during the marriage, the increase in value of the house may be subject to equitable distribution.
Additionally, if the home was "purchased in anticipation of marriage", then under NJ divorce law it may be included in the "marital pot" of assets that are available for equitable distribution.
The treatment of a premarital home under New Jersey equitable distribution laws can be complex and depends on the specific circumstances of each case.
All in all, it is important to make sure that you are taking the necessary steps to keep your pre-marital house safe in cases such as divorce.
This means not giving away any part of your premarital home by putting your spouse's name on it.
Being aware of how to protect these assets during the divorce process could save you a great deal of headache later on.
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5 Professional Circle
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www.KaplanDivorce.com
(732) 845-9010
