Mandy Moore has been dealing with her divorce from Ryan Adams since January 2015, and if the real-estate listings are any indications, things are progressing.
According to TMZ, the estranged couple has put their marital home on the market for $3.2 million. The house is somewhat unique, but the woodsy setting of their Los Feliz neighborhood in Los Angeles certainly lends to its value.
However, one thing that isn’t certain: Who will receive the profits from the presumptive sale?
Their divorce is proceeding in California, but here in Florida, the question can be just as murky if the rights aren’t defined in a pre- or post-nuptial agreement.
Of course, you can negotiate the division of assets into a separation agreement while the divorce is pending that addresses this scenario as well. Parties can agree on the method of distribution however they’d like, including scenarios where one keeps the home or lives in it until all the children reach the age of majority. The specifics of that delayed sale can be pre-determined as well.
If the spouses decide to continue to hold any real estate jointly as tenants in common, the relationship between them will continue, which can lead to problems. One party can force a sale by filing a partition lawsuit, which is yet a different court case all together according to Florida law!
The circuit court will force a sale and then distribute an equitable split of the proceeds. The decision-maker will take complete stock of the accounting from the property, including money invested by each for maintenance or improvement to ensure the distributions are fair. So be sure to keep proof of any money you spend on a property that isn’t held solely in your name!
The road isn’t always clear when discussing divorce, martial settlement agreements and division of assets. Let the professionals at the Men’s Divorce Law Firm look out for your interests in any family law matter. Contact us today to set up a consultation.