Sometimes, couples live in New Jersey but keep an apartment in New York because that is where they work or spend a lot of time. And as anyone with an apartment in New York knows, rent control is of paramount importance. That's why a recent court decision out of New York may be of interest to some readers.
In a decision released this week, a state appeals court held that rent-controlled apartments typically aren't eligible for equitable distribution according to a state family law provision. The ruling means that couples engaged in divorce proceedings can't split or otherwise distribute a rent-controlled property as a shared marital asset or separate property.
Continue reading Rent-controlled apartment not subject to equitable division
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