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buying ex husband out of jointly owned NYC coop apartment Sep 01, 2018

If I buy my ex husband’s share of our jointly owned coop (nyc) are all the flip taxes and state and city taxes applied as if I’m a new buyer, with no ownership of the apartment?

thanks

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Divorce share sale taxes and fees - Steven424 Sep 02, 2018

Since you are no longer married, I would assume the sale will be treated as if it were between unrelated parties.

You should not rely on my opinion but consult with the attorney who handled your divorce or an attorney who specializes in real estate law. If the divorce decree was not worded properly there could be all sorts of tax consequences.

Remember that fees imposed by the co-op corporation like the share transfer fee (i.e. flip tax) are in no way related to any applicable state and city taxes and fees. These would also depend on how the shares were titled before the divorce.

Something like this can grow very complex very quickly. It's best to spend the modest $$$ on an attorney today to save the big $$$ if the matter is not handled properly.

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