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If the property or asset was purchased or acquired during the marriage by way of the income or the efforts of either party (separately or jointly), the property will be deemed marital for purposes of equitable distribution upon divorce.
When the grantee or grantees are listed as ?married,? both spouses have rights to equitable distribution of the marital asset that is the house. This includes if only one spouse's name is listed on the deed, for example in the case that they alone put down the down payment.
New Jersey uses 'equitable distribution,' meaning that the court will divide property between the parties in a manner that is fair and equitable, and not necessarily equal.
Assets that either spouse gets prior to the marriage will qualify as separate property in most cases. However, if spouses mix their separate and marital assets, assets owned before the marriage can lose their ?separate? status.
Ing to the statute, a prenuptial agreement in NJ is enforceable without consideration. Also, ing to said statute, the agreement becomes effective upon marriage or upon the parties forming a civil union.
It is an especially common question of those who have married later in life, and who may have achieved significant assets before entering into a marriage. The general rule in New Jersey is that premarital assets are not subject to equitable distribution.
You are not required to consult or retain an attorney to prepare your prenuptial or postnuptial agreement. However, working with an attorney is recommended to ensure that the agreement accurately reflects your wishes, is drafted properly, and will be valid and enforceable at a later date.
In order for a NJ prenuptial agreement to be recognized legally by the state of New Jersey it must be in writing, and each party must produce full financial disclosure to the other party.