QUESTION
I am getting divorced from my 2nd marriage and it lasted for 5 years. A legal document was signed two months after getting married regarding property
Asked on Apr 09th, 2012 on Divorce - New York
More details to this question:
My spouse previously owned the property, but I paid $29,000 cash to pay off the mortgage. The document states that in case of divorce that I receive this $29,000 back for my interest in the property. The value of the property is much higher now than it was then, due to additional improvements that I made to the house. This includes a huge new garage worth over $20,000. Am I entitled to any other assests regarding the increased interest in the property, or am I stuck with the $29,000?
1 ANSWER
A careful and detailed examination must be done of your agreement. If the agreement did not cover or contemplate you potentially providing additional funds for the improvement of the property, then you may have a claim for a return of your funds from the property. However, if the agreement did contemplate this and you provided the funds, you would have to prove that there was some modification of the agreement agreed to by the parties for you to be able to recover any additional funds.
You should have your agreement reviewed by an experienced attorney in your area.
Answered on Apr 15th, 2012 at 12:33 PM