Harvey Cedars is located between North Beach and Loveladies on Long Beach Island. It is located on one of the narrowest portions of the Island. This community is small in size with approximately 400 full time residents. In the summer, the population swells to almost 12,000 residents. It is a great place to live if you want to relax at the beach. The summers are filled with tourists from all over the East Coast who come to rent homes or stay at their beach homes. There are no hotels in Harvey Cedars.
The Marital Home In Harvey Cedar
The division of the marital home is a major issue in most New Jersey divorces. For many couples the marital home is not only a financial issue, but an emotional one as well. Families with children may not want to sell the home to keep the children's status quo Often, the easiest option is to sell the marital home and divide the proceeds accordingly. This eliminates any financial ties between the parties.
If selling the home is not preferred for financial, personal, or family reasons, one spouse can buy out the other's equity. If both spouses' names are on the mortgage, the buying spouse must refinance the home in his or her name. Responsibility for any costs associated with refinancing such as appraisal, title, and attorney fees should be addressed in the settlement agreement.
For some couples, especially those with children, continuing to co-own the home may be the preferred option. This is a common choice for families with older children who would have a more difficult time leaving the home. If this is the case, the home is neither sold nor refinanced and one spouse, will move out. When the children graduate or there is no longer a reason to own, the house will be sold and the proceeds distributed according to a previous or new agreement between the parties.
Dissipation of Assets In A Harvey Cedar Divorce
Sometimes parties are concerned about their spouse using marital property for purposes unrelated to the marriage or children. For example, were marital funds used to support a girlfriend or boyfriend? In that case, the spouse responsible for the dissipation, will be held accountable during the New Jersey equitable distribution process to ensure a fair and equitable resolution.
Contact A Qualified Asset Protection Lawyer In New Jersey
Protecting your assets in the face of divorce does not have to be viewed as secretive or hiding money from your spouse. Protection is simply an effort to gain control over what may be subject to distribution in your divorce. Any asset acquired during your marriage may be subject to distribution, so taking inventory of them can benefit you greatly in a divorce. If you or a loved one are getting divorced in Ocean County or any other area of New Jersey and have concerns about protecting your assets, the attorneys at the Law Firm of Villani & DeLuca in Point Pleasant Beach, New Jersey can help you.