FAQ's

Property and settlements

What all falls under settled property?

Everything that is joint marital property (real estate, money, vehicles, ownership interests in companies, shares in housing cooperatives, receivables, mortgage and debts, if acquired by one or both spouses during the marriage).

If I inherit my parents' house, will that be part of the property settlement?

Things one spouse acquires by inheritance or gift or in relation to their sole property do not become joint marital property.

Do my husband/wife's debts also fall under joint marital property?

Yes. Joint marital property includes debts, regardless of which spouse was party to the contract taking out the credit (for example). One protection against a spouse's debts involves filing an objection of invalidity.