Real Property and Divorce in Palm Beach County

June 26, 2019 | Collaborative Divorce, Frequently Asked Questions (FAQs)
By: Chad Layton, Esq.

Many of the clients that our law firm serves own real estate in Palm Beach County. This real estate may be identified as the marital home, which is the home that the parties have owned and resided in during their marriage.

The parties may also have other real estate holdings for investment purposes or other reasons.

The real estate assets owned by the parties jointly or held by either spouse individually must be considered as part of the equitable distribution schedule in a divorce action. There are various ways that real estate can be properly addressed in divorce.

One option is to list the property for sale and split the proceeds of the sale equally between the spouses. Another option is to obtain a professional appraisal of the property to determine its value. The appraised value of the property can then be used to disburse the property as part of the equitable distribution schedule to one spouse or the other without selling the property. The spouse whom does not receive the property will then receive one half of the equity in the property via other assets from the marriage such as retirement accounts or other liquid assets.

Ultimately, the issue of real property and how it will be distributed between the spouses as part of the divorce should not be a reason to fight. Instead, experienced divorce professionals should provide a range of equitable solutions to assure that both spouses receive their fair share of the marital assets and liabilities including those real property assets.

Mindful Divorce, P.A. understands the intricacies of divorce law and how it applies to real property.

The law firm you choose to guide you through divorce should match your needs.

About the Author

Chadwick M. Layton is a marital law and divorce attorney at Mindful Divorce, P.A. in Palm Beach County, FL. Mr. Layton is also a member of the Florida Bar Family Law Section, the Susan B. Greenberg Family Law American Inn of Court of the Palm Beaches and the Palm Beach Flagler Rotary Club.