Divorce Lawyer Serving New Paltz, NY
How Do You Divide a House or an Investment Property?
Real estate portfolios are among the most complex property issues to settle in a divorce involving significant assets because of the nature of the market. Many types of investment assets can be readily liquidated and divided among parties in a lump sum settlement. Real estate, however, is subject to market forces that may make it difficult to liquidate assets in a timely manner. In addition, during market downturns, neither spouse in the property dispute may benefit by selling the property at a significant loss.
Appreciation of Property Values
In many cases, one party enters into a second marriage already owning real estate investments, which may range from a three bedroom rambler in the suburbs to a significant interest in a commercial venture. Often, the real estate portfolio will be protected by an agreement stating that the real estate will retain characterization as separate property, in the event of divorce. A spouse, however, may litigate the validity of the prenuptial agreement to prove that the disputed real estate increased in value as a direct result of contributions made during the marriage. The appreciated value of the separate property, therefore, may be characterized as marital property and subject to equitable distribution in the property settlement.
Marital property division involving real estate portfolios are complex and require an experienced lawyer to address concerns relating to property valuation, appreciated value, tax obligations and debt. At the firm of Jonathan D. Katz, Attorney at Law, I have been representing individuals of high net worth in divorce in New York for more than 25 years. I have the knowledge and resources to protect your financial rights and ensure the property settlement you get is right for your future.
Contact my offices in New Paltz, New York, to schedule a consultation about real estate asset division and your divorce property settlement today.
