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Commonly Asked Questions about Separate Property Warranty Deed

Separate property can include property acquired before marriage, gifts or inheritances obtained during the marriage (provided they are addressed to only one spouse), compensation acquired for personal injuries sustained by a spouse (except lost wages or medical bills), property acquired in exchange for separate
Joint family property, comprising ancestral assets and contributions from family members, serves the collective needs of the family. In contrast, self-acquired property, attained through individual effort, grants exclusive ownership rights to the acquirer.
When you married your spouse, you may have already owned property or had cash savings or investments. Your spouse also may have entered the marriage with property, cash and/or investments. This is called separate property. During the marriage, you and your spouse most likely obtained more property and cash.
A Married Man/Woman, as His/Her Sole and Separate Property: When a married man or woman wishes to acquire title as their sole and separate property, the spouse must consent and relinquish all right, title and interest in the property by deed or other written agreement.
In New York, any assets obtained during the course of a marriage are considered community property. Even if they are held in a separate account, any paycheck or other investments earned during a marriage and deposited into a bank account in one spouses name are still deemed marital property.
When one spouse owns the home prior to the marriage, the other spouse gets added to the deed during the refinancing process. This converts the home to a marital asset.
Transmutation is a term used in family law to describe property that has been transformed from a partys separate property into marital property. In the context of equitable distribution, the term separate property refers to property that is owned by one spouse individually.
Generally, separate property is: Anything you earned or owned (or a debt) from before you married or after you separated. Anything you buy with separate property or you earn from separate property. Gifts or inheritance (to one of you) even if it was given or inherited when you were married.