Florida is a hot spot for tourists. In an article published by the Orlando Sentinel, it was found that nearly 113 million people vacationed in Florida in 2016. That is a sharp increase from the previous year. Many people who come to enjoy the lovely Florida weather even have their own vacation home to relax in.
Property is always a point of contention in a divorce. However, many couples have property outside of their everyday house. When a couple has a vacation home together, it can be stressful determining who gets it after a divorce. Luckily, determining this is a lot simpler than most people realize. One thing is for certain: it is a lot easier than determining who gets the actual house.
Different options for dividing a vacation home
There is more than way to divide a vacation house in Florida. The first option is to simply sell it and then divide the money earned among the two spouses. Secondly, they can split the property. The spouses can come to an agreement regarding who gets the vacation house during what times of year. It may also be possible for one spouse to use the vacation home as a new permanent residence. Finally, one spouse can retain total control of the vacation house, but its value as an asset needs to be weighed carefully.
Additional important factors
One factor the court will look at is when the vacation house was acquired. If one person totally owns it and had it before the marriage, then that person gets a lot more leeway. However, if both spouses acquired the property during the marriage, then things get trickier. There is also the consideration if one spouse acquired the vacation home before the marriage but the home gained a significant increase in value over the course of the marriage.
Divorces can be complicated. However, they can be a lot more manageable with sufficient divorce representation.