Securing a Fair Divorce Settlement When Vacation Homes Are Involved
Should a Florida couple divorce, dividing assets can become even more complicated when vacation homes (particularly valuable or sentimental properties) are part of the marital estate. Whether there is one beachfront condo or multiple vacation properties spread across the country, talk to a West Palm Beach family attorney to learn more about how these assets are evaluated and disbursed during divorce proceedings.
Vacation Homes and Florida’s Equitable Distribution Law
In Florida, marital property is subject to equitable distribution. This doesn’t mean a 50/50 split but rather a division that is fair under the specific circumstances of the marriage. Vacation homes, if purchased or significantly improved during the marriage using joint funds, are generally considered marital property. Even if only one spouse’s name is on the title, the property could still be subject to division.
It’s also important to distinguish between marital and non-marital assets. If a vacation property was owned by one spouse before the marriage and kept separate (no joint payments, no co-mingled funds), it might not be divided. But if marital funds were used to pay the mortgage or make improvements, the other spouse could still have a claim to a portion of the property’s value.
The number of vacation properties can influence negotiations. When there are multiple homes, one spouse might receive a particular property while the other receives assets of equivalent value to achieve a fair outcome. For example, a beach house in Florida might be awarded to one spouse, while the other receives a cabin in North Carolina and a larger share of retirement accounts.
Locations can also impact the process. While Florida courts have authority over properties within the state, out-of-state or international vacation homes may require cooperation with other jurisdictions. This can complicate enforcement of orders, property valuations, and overall logistics, making it even more important to work with an experienced divorce attorney.
Who keeps a vacation home after divorce depends on several factors, including:
- The home’s classification as marital or non-marital
- Each spouse’s financial position and ability to maintain the property
- Sentimental attachments or use (such as for children)
- Trade-offs made during the settlement negotiations
Sometimes spouses agree to sell the property and split the proceeds, especially if neither can afford to maintain it alone. Other times, one spouse may buy out the other’s share as part of the final settlement.
It’s Common to Have Multiple Homes
Given Florida’s popularity as a vacation destination, it’s popular for couples to own second homes. These properties might be local weekend getaways or long-distance seasonal escapes, but either way, they often represent a significant portion of the couple’s net worth.
A West Palm Beach family attorney can be instrumental in ensuring vacation properties are properly valued, classified, and handled during divorce proceedings. With high-value assets at stake, securing a fair divorce settlement requires knowledge, strategy, and strong legal representation.
Are you wondering what will happen to your vacation homes as you move to end a marriage? Speak with the family lawyers at Bruce S. Rosenwater & Associates. Doing so is a way to protect your rights and your future. Schedule your confidential consultation today.
