Real estate a top factor behind growing number of millennials’ signing prenups

A survey of lawyers say millennial couples are increasingly entering into prenuptial agreements

New York Weekend Edition /
Jul.July 07, 2018 11:00 AM

(Credit: jks Lola)

They may be late bloomers, but millennials are playing it safe and smart about assets as they tie the knot.

A survey of lawyers found that millennial couples, who are often delaying marriage years longer than previous generations, are increasingly signing prenuptial agreements with real estate and alimony being the key issues under negotiation before entering into their marriage, according to the New York Times.

In a contested divorce in New York, any assets acquired over the course of the marriage are divided between the two parties based on their contributions to the union. Even in the event that both spouses agree to split the spoils of matrimony down the middle, determining the weighting of each asset in accordance with their contribution can be a long and subjective process–as evidenced in Harry and Linda Macklowe’s recent blockbuster divorce trial.

In California and Texas, both community property states, all assets acquired during the marriage are required to be divided up 50-50.

“It’s not about what the value is today; it’s what the value is going to be in the future,” said Louis Cannataro of Cannataro Park Avenue Financial to the Times. Many of his millennial clients want to specify that future gains on an investment property will accrue to them alone, not their partnership. [NYT]Erin Hudson


Related Articles

arrow_forward_ios
48 Willow Place and 568 First Street in Brooklyn (Google Maps, Unsplash)

Brooklyn sees $49M in luxury contracts signed during holiday week

Brooklyn sees $49M in luxury contracts signed during holiday week
Second monthly decline in contract activity signals looming decline in U.S. home sales (iStock)

Pending home sales fall again as prices continue to rise

Pending home sales fall again as prices continue to rise
2544 Valentine Avenue in the Bronx (Photo via Black Bear Capital Partners)

Bronx rent-stabilized multifamily portfolio nabs $186M loan

Bronx rent-stabilized multifamily portfolio nabs $186M loan
CBRE CEO Robert Sulentic (iStock)

CBRE lowers SPAC IPO valuation target to $350M

CBRE lowers SPAC IPO valuation target to $350M
Union Crossing at 825 East 141st Street with LibreMax's Greg Lippmann (Union Crossing Bronx; LibreMax)

$78.6M sub-performing loan on Union Crossing up for sale

$78.6M sub-performing loan on Union Crossing up for sale
The mall was already beset by 18 years of starts and stops (Getty)

Can the American Dream mall survive the pandemic?

Can the American Dream mall survive the pandemic?
Spending outpaced foot traffic because shoppers purchased at the stores they did visit (Getty)

Retail foot traffic tanks on Black Friday

Retail foot traffic tanks on Black Friday
Former J. Crew CEO Mickey Drexler and 760 N Walnut Ave, Ketchum (Getty; Realtor)

Former J. Crew CEO Mickey Drexler sells Idaho estate

Former J. Crew CEO Mickey Drexler sells Idaho estate
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...