cmaderia2001
New Member
My question concerns getting a modification on a finalized divorce due to lack of disclosure on one parties financial statement therefore effecting the other parties decision on the final divorce.
If Party "A" was subject to a State of NY Tax Lien both personally as well as an officer of a corporation for taxes owed for a business that Party "B" was neither part of nor had any knowledge of after initial legal separation and Party "A" did not disclose such information prior to the final divorce settlement therefore inhibiting Party "B" from making a sound, rational financial decision on the final divorce settlement does Party "B" have any recourse?
Both Parties "A" and "B" agreed that the marital home would be split 50/50 as documented in the final divorce decree. A major factor on Party "B" settling on this agreement was based on Party "A's" financial disclosures. Party "A" never revealed its tax lien to Party "B" or the court prior to final divorce.
Party "B" in the process of selling the marital home finds out there is a tax lien on Party "A" and the marital home for taxes Party "A" incured while both parties were legally separated for a business in which Party "A" was a officer but Party "A" did not disclose to Party "B" during the divorce/settlement process. Party "A's" tax lien amount now takes Party "B's" portion of the divorce settlement. Party "A" now gains 100 percent of the marital home to pay it's debt which it had no right under the divorce agreement.
Party "B" would have never agreed to the final divorce settlement if Party "A's" tax lien was disclosed to the court by Party "A" prior to final divorce settlement. Did Party "A" under NY Law have to disclose this to Party "B" or the court prior to the final divorce settlement? I have read the New York Domestic Relation Law, Statue 236. One of the considerations in dividing the marital property the judge takes under the statue is how tax affects both parties based on his decision. Would the court have independently checked for tax liens or was it Party "A's" legal responsibility to reveal them to both the court and Party "B" prior to any settlement?
Any help in this matter would be greatly appreciated.
If Party "A" was subject to a State of NY Tax Lien both personally as well as an officer of a corporation for taxes owed for a business that Party "B" was neither part of nor had any knowledge of after initial legal separation and Party "A" did not disclose such information prior to the final divorce settlement therefore inhibiting Party "B" from making a sound, rational financial decision on the final divorce settlement does Party "B" have any recourse?
Both Parties "A" and "B" agreed that the marital home would be split 50/50 as documented in the final divorce decree. A major factor on Party "B" settling on this agreement was based on Party "A's" financial disclosures. Party "A" never revealed its tax lien to Party "B" or the court prior to final divorce.
Party "B" in the process of selling the marital home finds out there is a tax lien on Party "A" and the marital home for taxes Party "A" incured while both parties were legally separated for a business in which Party "A" was a officer but Party "A" did not disclose to Party "B" during the divorce/settlement process. Party "A's" tax lien amount now takes Party "B's" portion of the divorce settlement. Party "A" now gains 100 percent of the marital home to pay it's debt which it had no right under the divorce agreement.
Party "B" would have never agreed to the final divorce settlement if Party "A's" tax lien was disclosed to the court by Party "A" prior to final divorce settlement. Did Party "A" under NY Law have to disclose this to Party "B" or the court prior to the final divorce settlement? I have read the New York Domestic Relation Law, Statue 236. One of the considerations in dividing the marital property the judge takes under the statue is how tax affects both parties based on his decision. Would the court have independently checked for tax liens or was it Party "A's" legal responsibility to reveal them to both the court and Party "B" prior to any settlement?
Any help in this matter would be greatly appreciated.