By Robin Roshkind, Esquire, West Palm Beach, Florida
The answer is yes…if the parties cannot agree between themselves what to do with the marital home, the divorce court judge can order that the marital home be sold in the prevailing marketplace, and at fair market value, with the net proceeds, if any, split between the parties, as well as any dificiencies. Usually the split is 50/50, but there are certain circumstances under which the divisionof net proceeds or dificiencies may be unequal.
For example, if the wife proves in court that the husband has spent substantial amounts of money on a paramour, or gambling habit, or drugs. This is called marital waste or dissipation of marital assets. Another example is where a spouse sold a home prior to the marriage and then used those funds to purchase the marital home, when the marital home sells, the spouse gets that premarital money off the top before a distribution. In other words, where the case calls for an unequal split of the marital estate, the net proceeds or dificiencies from any sale of property may be less than equal.
There are several other ways in which a marital home can be dealt with in divorce court. For more information call one of the divorce lawyers at ROBIN ROSHKIND, P.A. at 561 835 9091 or click on the Firm’s web site at www.familylawwpb.com for more information.