In many divorce actions, the parties will determine how any marital property should be divided without intervention from the courts and will set forth the terms of their decision in a marital settlement agreement. While parties have the right to independently decide what is considered a fair distribution of assets, they should be careful when entering into marital settlement agreements, as they are typically upheld by the courts. In a recent New York opinion, the court discussed the grounds for setting aside a marital settlement agreement, ultimately rejecting the husband’s argument that the agreement in question was unconscionable. If you are contemplating ending your marriage or were recently served with divorce papers, it is prudent to speak with a New York divorce attorney.
History of the Case
It is reported that in July 2013, the husband initiated divorce proceedings. In September 2016, the parties, both of whom had legal representation, entered into a settlement agreement. The agreement included provisions stating that the husband transferred his rights to the marital residence to the wife and that he would settle the outstanding mortgage.
Allegedly, in January 2017, the husband tried to invalidate the settlement agreement, claiming it was unfair and obtained through coercion. The trial court denied the husband’s request and subsequently issued a divorce judgment that incorporated but did not merge the agreement. The court then divided the marital property in accordance. The husband appealed. Continue reading
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