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Property Division Archives

What is a house 'buyout' during divorce?

When a couple divorces, the property is divided up according to the guidelines in that state. New York's equitable distribution law divides property fairly, depending on whether it is marital property (bought during the marriage), or separate property (owned before or somehow acquired separate from the marriage such as through an inheritance). If the house is separate property, it will belong to the owner after the divorce.

FAQ: How property is divided in a NY divorce

Property division is often a huge point of contention during a divorce. People want to keep certain belongings or they may even fight to retain as much property as possible out of spite or anger. Regardless of the emotions involved, a judge is in charge of dividing property between you and your spouse if you cannot reach an agreement together. If your property is going to be divided in court, you may be wondering about the following questions:

What will happen to my retirement savings during divorce?

You know that your divorce will have a significant financial impact. You may be concerned about how this decision will affect your retirement, even if you still have many years to go before you can stop working. No matter where you are in life at the time of your divorce, it is prudent to make decisions with a strong financial future as your goal.

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