What happens to out-of-state property in a New York divorce?
In New York, divorce courts follow the principle of equitable distribution. Unlike community property states, New York does not automatically treat all property acquired during marriage as jointly owned. Instead, courts divide marital property in ways that are fair instead of equal.
Do courts in New York have jurisdiction over out-of-state property?
New York courts typically do not have any authority to transfer real estate titles in other states. However, they do have control over the spouses in the divorce. This allows the court to order divorcing couples to take specific actions concerning out-of-state property. This includes signing deeds, selling the property or transferring ownership.
Courts do this to ensure equitable distribution, giving both spouses the chance to receive marital property fairly and justly. If a spouse refuses to follow a court order, the court can enforce its judgment through contempt.
How do courts in New York divide out-of-state property?
When dividing out-of-state property, New York courts examine specific factors about the marriage to help determine how much each spouse should receive. Some of the factors judges typically include:
- The length of the marriage
- Each spouse’s income and earning ability
- Each spouse’s contributions to the marriage, including homemaking and child-raising
- The value and nature of the property
- The future financial circumstances of each party
To distribute out-of-state properties, courts may order the couple to sell them and divide the proceeds equitably. Alternatively, one spouse may buy out the other or opt for co-ownership.
The importance of equitable distribution
Equitable distribution aims to reduce economic hardship by providing both spouses with a fair opportunity to move forward. Courts carefully evaluate the origin, value and use of each asset to reach a just and equitable outcome. This way, spouses will have an easier time adapting to their new lives after living together for so long.