Creating an equitable distribution between divorcing spouses can often be complex. This can be especially so when one or both spouses hold nonmarital assets that are subject to mortgages and use marital assets to make the mortgage payments on those properties. In the case of one Southwest Florida couple, the 2d District Court of Appeal ruled that the wife should received an offset because, even though the husband’s property declined in value during the marriage, his equity in the asset increased as a result of paying down the mortgage using marital funds.
In this circumstance, R.S. (husband) bought a building in Queens, NY in 1998 that housed two residential apartments and a commercial space. By the time the building owner married his wife, M.S., in 2007, the value of the building stood at approximately $900,000. Shortly before the couple separated five years later, the husband sold the building for $680,000. At the couple’s divorce trial in Fort Myers, the court concluded that the building did not appreciate in value during the duration of the marriage.
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Fort Lauderdale Divorce Lawyer Blog













