Legal Question in Family Law in Florida
Propety Evaluation
A couple, separated for 3 years, is going to file for Divorce in Florida, shortly. Only major asset is a house, the party who has been living in the house since the separation is going to pay the other for her interest in the house, how is it to be valued - as of the date of their separation, date of filing the divorce Petition or current date ?
2 Answers from Attorneys
Re: Propety Evaluation
Another thing. If the home is not being sold through a realtor do NOT deduct closing costs and costs of sale from the price of the home. That is a trick used to undervalue homes. If it isn't happening right now you don't deduct it.
Re: Propety Evaluation
The basic answer generally is that most courts value the home as of the date of filing. Another major issue is who has been paying for the home since seperation. BOTH parties were responsible to pay for the home even though only one was living there. The one who was living there who did not receive any contributon may be entitled to credits towards those payments depending on the facts. Especially if children are involved.
I can't stress enough that it is very dangerous to handle your own divorce where either children are involved, either party has pension or 401K or IRA or the like from their employer, or real property involved. One cannot imagine the mess and the loss of funds that can be involved depending on the case.