Replacing Alimony Payments with Homes Sales

In an article published on 3/23 in General Counsel News, Rebecca Palmer talks about the division of real estate assets. She highlights a new case, W.S. H. v V. I. P, which recently saw a non-precedential decision that ordered the defendant to sell a vacation home to pay arrears. The defendant failed to pay the plaintiff alimony and equitable distribution for several years and ultimately lost an expensive asset as a result.

“If standard alimony payments are problematic or a party involved in a divorce does not pay for a prolonged period of time, why couldn’t both parties agree on the sale of a vacation home, timeshare, or condominium to satisfy payment of alimony?” writes Rebecca. “Given how Central Florida’s real estate market is booming, it makes a lot of sense for divorcing parties to sell a second or third home and make a clean split instead of making repeating payments.”

“It goes without saying that Florida’s real estate marketing is exploding,” says Kelly Price, owner of Kelly Price & Company and one of Florida’s preeminent brokers. “Home values are through the roof, so leveraging that financial advantage toward alleviating foreseeable headaches in the future is a no-brainer.”

To read the article in full, click here.