Dividing Rental Properties and Other Investments in a Fort Lauderdale Divorce: How Florida Law Applies

Rental properties and investment portfolios take years to build and are among the most complex assets to divide in a Fort Lauderdale divorce. Understanding how Florida law treats these assets can help in getting what you are entitled to in a settlement.

Our experienced Fort Lauderdale divorce lawyer provides trusted legal guidance to clients in these cases. Find out how passive income and investment properties are classified in a Broward County divorce and ways to protect your interests.

Dividing Rental Properties and Investment Income in a Fort Lauderdale Divorce

Under the Florida Statutes (Section 61.075), marital assets are divided equitably in a Fort Lauderdale divorce. Equitable division only applies to those assets earned, acquired, or otherwise accumulated during the marriage, and each party is entitled to their fair share.

Whether rental property or an investment portfolio is actually on the table in a Fort Lauderdale divorce depends on when you acquired each asset, where the money came from, and how you managed it during the marriage. Assets that are generally subject to equitable division include:

• Rental property purchased or paid on since you got married.
• Rental income, if it was deposited into marital accounts or used for shared expenses, such as your mortgage, groceries, or utilities.
• Other investments you or your spouse helped maintain, manage, or make improvements to.
• Pre-marital investment accounts, if you contributed marital funds to them.
• Any stock dividends, interest, and investment gains earned during the marriage.

When dividing investment properties and passive income in a Fort Lauderdale divorce, how you handled these assets during the marriage matters as much as when you acquired them.

How to Protect Your Interests When a Fort Lauderdale Divorce Involves Investment Property

Investment properties and passive income can represent significant amounts of money. To protect your financial interests when dividing these assets in a Fort Lauderdale divorce, take the following steps:

• Get legal help determining whether your investments and passive income fall under the category of marital or pre-marital assets.
• Collect proof of mortgage payments, property deeds, past tax returns, financial statements, and other relevant documents.
• Consider using a professional appraiser to determine current value and a forensic accountant to trace the source of payments.
• Work with your lawyer to determine whether keeping the property and offsetting its value with other marital assets is better than forcing a sale.
• Factor in potential tax implications.

Before agreeing to any divorce settlements, make sure it clearly establishes who owns the asset and receives rental income, interest, dividends, or other proceeds.

Consult Our Experienced Fort Lauderdale Divorce Lawyer

Passive income and investment properties can represent significant amounts of money and require careful attention in a Fort Lauderdale divorce. At Vanessa L. Prieto Law Offices, we provide clients with the trusted, experienced legal representation they need to protect their rights.

To get what you are legally entitled to in your divorce settlement, call or contact us online and request a consultation today with our Fort Lauderdale divorce lawyer.

Source:

leg.state.fl.us/Statutes/index.cfm?App_mode=Display_Statute&URL=0000-0099/0061/Sections/0061.075.html