When it comes to divorce, the list of questions that people have is long. How can I get a fast divorce? How much is an uncontested divorce? And who will get what? If you want to know who gets the house in a New Jersey divorce, then we can help.
The Difference Between Marital and Separate Property
To understand how assets including your house will be distributed in New Jersey, first, you have to understand the difference between marital and separate property. If you need further help distinguishing between the two after we cover them below, then don’t hesitate to reach out to us at Carvajal Law. We are the divorce experts in North Bergen, New Jersey.
What is Marital Property in New Jersey?
Marital property is any property gained over the course of a marriage. Houses, cars, land, and other assets that you accumulated together would all count as marital property. This is the property that will go through the equitable distribution process.
Your house may fall into this category. Who gets it will come down to many factors including your child custody, health, potential earnings, debts, and more.
What is Separate Property in New Jersey?
If a piece of property or asset is considered separate property, it typically does not go through the equitable distribution process. In fact, it is fully exempt meaning that it also does not affect how other assets are distributed.
For the most part, for an asset to be considered separate property during a divorce, it has to be acquired either before or outside of the marriage. In other words, if you bought something like land, a boat, or even a house before your marriage, that would come back to you without penalty once your marriage is dissolved.
Will Your House Be Considered Marital Property?
Did you buy the house together? Then yeah, the courts will consider it to be marital property. Did one of you buy the house before the marriage? Then, it gets a little more complicated. If spouse 1 bought the house before marriage, but spouse 2 moved in and became a significant contributor to the household, then the house becomes marital property. Significant contributions can range anywhere from contributing money towards a mortgage or paying for renovations to raising children or taking care of daily chores.
Divorce Lawyer in New Jersey
If you are looking for a divorce lawyer in Hudson County, New Jersey, or any of the surrounding areas including West New York, Newark Hoboken, and Bayonne, then you should reach out to Carvajal Law. With our legal experience in divorce, we can help you achieve a favorable outcome for your divorce.
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