A mortgage payment can look routine during a marriage, yet become a six-figure issue when the marriage ends. When marital money reduces debt on one spouse’s nonmarital property, the resulting value can become a marital asset subject to equitable distribution. A recent Florida decision shows why a court must account for the entire principal reduction when an appellate mandate requires it. It also confirms that interest on an equalizing payment may depend on the equities after recalculation. If you are faced with disputes over property, marital funds, or equalizing payments, you should consult an experienced Miami divorce attorney as soon as possible to discuss how to protect your interests.
Case Setting
Allegedly, during the marriage, the spouses used marital funds to reduce the note and mortgage on real property that remained a nonmarital asset of one spouse. The principal reduction totaled $355,674. In the original dissolution judgment, the trial court did not include that marital mortgage paydown within the equitable distribution scheme, prompting the former wife to appeal.
Fort Lauderdale Divorce Lawyer Blog

