My question involves a marriage in the state of: New Jersey
I have a question regarding division of property in a divorce. Please let me know what would happen in the following situation -
- My wife and I have been married for two years.
- Prior to marriage, we both owned property
- Her property is in her name only. My property is in the name of me and my brother. However, the mortgage has been in my name only since 2011. My brother has not paid a dime since 2007.
- Since we have been married, we did not commingle finances except for one small joint account. We kept our separate bank accounts for convenience.
- Since we have been married, I have been paying my mortgage out of my own separate bank account, and she has been paying her mortgage out of hers.
- We are both living in my house.
- Both houses have nearly equal mortgage payments.
My understanding is that because we bought our properties before the marriage and neither of us have put a penny into the others, they will be considered non-marital properties. Therefore, she could not go after my house and I could not go after hers. Either that or the 2 years of mortgage we paid on the houses out of our separate accounts would be considered, but since it is basically a wash, it would probably be negligable if any payment one way or another.
Please let me know if that is accurate or not.
Additionally - if say my brother got divorced, could her wife go after my property despite the fact that my brother has not paid anything in over a decade? We bought it in 2005 and he moved out in 2007. There was an error and when I did my refi in 2011, his name was not taken off. I know that is stupid but I signed about 50 documents so I thought one of them would take care of the property deed.