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New York uses equitable distribution rules in divorce. That means unless couples have agreed on how theyll divide their property and debts when they divorce, a judge will decide what would be fair under the circumstances. Note that equitable doesnt necessarily mean an equal, 50-50 split of the assets and debts. New York State Divorce Laws - DivorceNet divorcenet.com divorce divorce-basics divorcenet.com divorce divorce-basics
New Yorks equitable distribution law specifies that you are entitled to a division of all marital property assets that were acquired during the marriage. With few exceptions, marital property generally includes both spouses income, purchases made with that income, and retirement benefits.
New York is an equitable-division state, so the court doesnt have to divide the marital assets 50/50. Typically, the court will examine and compare the financial situation of each spouse and award more property to poorer spouse who has less ability to support themself or get a well-paying job. Disclaimer:
There are seven grounds, legally acceptable reasons, for a divorce in New York State: Irretrievable breakdown in relationship for a period of at least 6 months. Cruel and inhuman treatment. Abandonment. Imprisonment. Adultery. Divorce after a legal separation agreement. Divorce after a judgment of separation. Residency and Grounds for a Divorce | NY CourtHelp - Unified Court System nycourts.gov family divorceRequirements nycourts.gov family divorceRequirements
This means that married spouses equally own all income and assets acquired during the marriage. In the case of divorce, all assets and debts acquired during the marriage are split equally.

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The husband and wife must be living separate and apart for a period of at least one year after signing a separation agreement to use it for a divorce.

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