In a divorce in Jacksonville, Florida, Florida divorce attorneys used to treat the marital home as an asset but are now having to treat the marital home as a huge debt.If the marital home does not sell in a timely manner, the result has a direct impact on Florida child support, spousal support, debt division, living arrangements and tax consequences of the parties.
The slow market has created difficulties for the parties because most of the time, the marital home has not sold by the time the divorce is being finalized. This creates questions regarding who is going to be responsible for the mortgage? Who gets to live in the home while it is on the market? Which party gets the mortgage interest deduction? This scenario needs creative solutions and practitioners are now being called on to help divorcing parties navigate through the muddy waters of the present market. Please call a Jacksonville Florida Divorce Attorney to help you navigate these waters. I am available to speak with you at 904-685-1200.