QUESTION
Is there a law or rule in NJ that no one is allowed to sell marital property or use marital assets during the divorce?
Asked on Mar 30th, 2022 on Divorce - New Jersey
More details to this question:
Is there a law or rule in NJ that no one is allowed to sell marital property or use marital assets during the divorce or is that something that needs to be spelled out in an agreement? What happens if someone sells marital property during the process without the other parties’ approval at a low price with the intent to buy it back after the divorce is over? What would a judge do if the appraisals for the asset differed between the parties and the asset is already sold?
1 ANSWER
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If you are going through a divorce and your spouse is / has sold off assets of the marriage without your consent, you need to consider filing an application with the court for sanctions against him / her. As part of your application, if you beleive that he did so, to try and prevent you from sharing in it or with the plan to re-acquire it at a later date, you need to present all of your proofs now so that a judge can address it and potentially hold your spouse accountable for its value, etc in the divorce or to compel its return.
Answered on Apr 03rd, 2022 at 10:44 AM