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Rental Property Purchased with Separate Funds

By Thomas A. Elliot

Approximately 30 years after the enactment of Equitable Distribution Law, courts continue to grapple with issues of statutory interpretation pertaining to the classification of property as marital or separate. In Fields v. Fields, 15 N.Y.3d 158 (2010), handed down on June 10, the Court of Appeals addressed the issue of whether the husband's interest in a certain rental property, which was purchased by him during the marriage using his separate funds for the down payment, should be classified as marital or separate property. The court, with two judges dissenting, held that the townhouse in question constituted marital property subject to equitable distribution, notwithstanding the husband's purchase of the property with his separate funds.

Husband Buys Property, Wife Does Not

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