QUESTION
If she takes ownership of our house, is she half liable for the rental house until it sells?
Asked on Mar 14th, 2015 on Divorce - Florida
More details to this question:
My wife and I own 2 homes. One we live in and one we rent out. She wants the house that we live in. The house that we rent out, she wants me to take full responsibility for. The tenant is my father and he wants to move out. I wish to sell both houses and split the debt owed. She does not. This is the only debt we have and seems to be our biggest argument.
5 ANSWERS
Family Law Attorney serving Greenacres, FL
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Ronald Bornstein, Attorney at Law
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Florida is an equitable distribution State. This generally means that any assets and liabilities acquired during the marriage are presumptively marital assets and marital liabilities subject to equitable distribution by the court. The court will start with a presumption of a roughly equivalent division of both the assets and liabilities between you. Depending upon the unique circumstances of your case, the court may order both houses sold, the liabilities paid off, and any remaining net proceeds split between you, or the court may award each of you one of the houses, and make adjustments to the distribution of the remaining assets and liabilities between you to account for any difference in the fair market values of the respective houses. You may want to consider attending mediation to attempt to resolve your dispute as a whole, or just the issue regarding the disposition of the houses. Consult with an attorney to discuss the specifics of your situation and your options.
Answered on Mar 23rd, 2015 at 9:18 PM
Social Security Disability Attorney serving Melbourne, FL
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Law Office of Robert E. McCall
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You have not asked a question so any answer is pure speculation. If there is no agreement then the Judge will decide the issue.
Answered on Mar 17th, 2015 at 3:17 PM
You take the current market value of the properties, total that amount, subtract the amounts owed and dived that number by 2. That would be the amount that each of you have in the properties. Accordingly, with that number, one can buy out the other, keeping the properties separate, so that she can keep the one property and you can sell the other. Good luck.
Answered on Mar 17th, 2015 at 3:16 PM
John Arthur Smitten
You can file a complaint for partition of real property, the court will order the sale of both properties. Use of a lawyer is recommended.
Answered on Mar 17th, 2015 at 4:23 AM
Criminal Defense Attorney serving Deltona, FL
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R. Jason de Groot, P.A.
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Get an attorney. If you do not get one, you will probably be dissatisfied with the outcome.
Answered on Mar 17th, 2015 at 4:22 AM