Take Control Blog
It’s very common as part of a divorce proceeding that the marital home is an asset that must be “split” between the formally married couple. Assuming one of the parties agrees to retain the marital home, the “transfer” of the property is accomplished via a Quit Claim Deed (QCD). That’s the simple and procedural part of dealing with the marital home. However, what many people fail to consider at the
Given the emotional state of most recently divorced couples, there is a resulting tendency to “put things off” until things settle down. Well, life teaches us that procrastinating usually leads to problems that will cost us time, money or both. Paula is a 48 year old woman divorced about 10 years ago. During the term of her marriage to Anthony, Paula’s parents gifted one of their beach rental properties to Paula.
It’s common that in a divorce one of the parties retains the marital home, which was previously owned and titled jointly. During the time of the marriage, the couple most likely filed for Homestead Exemption (HE) on the property. In Florida, Amendment 10 (Save Our Homes Amendment) prevents the assessed value of a homestead property from increasing more than 3% per year, or the percent change in the Consumer Price