On behalf of South Tampa Law Group posted in property division on Friday, April 13, 2018.
The pending divorce of one famous politician and his wife of 15 years may soon have them splitting up their vacation homes. The two Florida condos they own together are worth an estimated $4 million. The couple, former mayor Rudy Giuliani and his wife Judith, enjoy spending their free time in Florida. The property division process of the two homes could certainly be an issue.
One of the two homes is valued at $600,000. It was an earlier purchase in their marriage, and the home is not in the glitziest neighborhood. The couple found that they enjoyed the Florida lifestyle so much that they eventually upgraded to another South Florida condo in a more fashionable neighborhood. That home is currently valued at $3.3 million.
It has been reported that the two are often spotted on the scene at local social events and charitable functions. They both seem to enjoy the spotlight and the social interaction that comes along with it. Having to split the properties could potentially be painful for the pair who have become accustomed to their lifestyle. Since the properties are so different in location and value, it may take some negotiation to settle the division.
The glamorous South Florida condos and the community that accompanies them are a valuable asset. During the divorce, they will both be subject to property division, along with any other assets that the couple shares. Each party has apparently retained a lawyer for the process. Other individuals facing division of their assets during a divorce may also wish to hire a family law attorney who can help them reach a satisfying agreement.
Source: Miami Herald, “South Florida condos worth total $4 million may be up for grabs in Giuliani divorce“, Jose Lambiet, April 5, 2018