Q: Bought a house in New Jersey for $140,000 one year prior to marriage. Wife after22 years of marriage wants divorce.
House now worth 200,000. Is wife entitled to half or half of appreciation?
A: If you are both in NJ and the property is in NJ, the general rule is 1/2 the appreciated equity. But in a divorce, everything is subject to negotiation and some things can be traded off for others. You need to retain an experience matrimonial attorney to represent you in this case. Pick the best lawyer you can find and remember one rule: a good lawyer is generally never cheap, and a cheap lawyer is generally never good so don't choose based on price.
A:
Thank you for your question.
The answer depends on a number of factors. If there were contributions made to the home to assist in the appreciation of its value than there may be a claim to some of the interest. It also depends on who owns the home and how monies were spent towards same throughout the years of the marriage. Based on your circumstances, it would be best to contact an experienced family law attorney to address your specific concerns and to ensure you understand your rights.
I hope this information was helpful to you.
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