Real Estate Investments in Divorce

Serving the greater Columbus, Franklin county and Central Ohio areas.

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Ohio Attorneys for Real Estate Investor Divorces

Family Law specialists with over 59 years of experience.

The team at the Lawrence Law Office is uniquely qualified to handle high-asset divorces. While Linda is a board-certified specialist in the field of family law, Rodd has over 20 years of experience focusing on real estate and business law.

If you’re a real estate developer needing a divorce attorney in the State of Ohio, our team of experienced and professional lawyers provides unparalleled counsel to high-asset clients.

Real Estate is an Extremely Hot Commodity


All over the country, real estate has skyrocketed as more and more millennials pour into a market in which there is roughly the same number of homes. Developers of both residential and commercial properties are seeing their ventures blossom in both housing and rental markets. While some have noted that the spike in value is similar to the pre-crash numbers, lenders have not been anywhere near as cavalier about floating loans to high-risk borrowers. In other words, the real estate boom that we’re seeing right now is likely sustainable. There’s simply more buyers and less inventory, which is driving up prices naturally.

Real Estate Investments and Divorce


In a marriage in which there is no prenuptial agreement, Ohio law determines how assets are divided. The first question to be considered is: What constitutes marital property? Typically, marital property is any property that was acquired during the marriage. This can also include value that has accrued on a parcel of real estate if it was developed during the divorce.

Given that these are often extremely complex situations that require protracted periods of discovery and appraisal, experienced legal counsel is necessary for those who want to protect their assets during the divorce process.

Understanding Equitable Distribution in Ohio


States take two different approaches to dividing property in a divorce. There are equitable distribution states (like Ohio) and community property states. While the court will assume that an equitable distribution is a 50/50 split, there may be a number of reasons why the court will favor one spouse over the other when dividing property.

These reasons can be as varied as spousal misconduct or a severe imbalance in the earning power of one spouse over another. Considerations such as spousal support and child support also play into how property might be distributed.

A skilled upper-class divorce attorney who caters to high-asset clients understand how important your investments are to you. We can help protect your assets in the divorce and negotiate with your spouse to ensure your life’s work is not unfairly plundered.

How Real Estate is Divided in a Divorce


In order to understand how to protect real estate from divorce, you need to first understand how it is divided. The first step in the process is appraising the real estate. Real estate typically lends itself rather well to the appraisal process. The value of the real estate is only considered up to the date of separation. The spouse who has primary control of the real estate would still own their interest and the other spouse would be entitled to either their stake in the venture or the value of the real estate at the time of separation.

In addition, the amount of equity (that is marital property) is considered against the outstanding balance of the loan. In other words, what ends up getting appraised is the equity. So, the equity is what is considered marital property.

There are a couple of different ways of handling this issue. One spouse can buy out the other spouse’s share of the equity or the spouse can forfeit that property entirely as a bargaining chip for some other property. In cases in which a property has “negative equity”, a spouse may also absorb the costs of that property and use that as a bargaining chip in order to secure other properties. Debt accrued during the marriage is also considered “property of the marriage”.

Marital and Non-Marital Equity


As we said before, property acquired before the marriage belongs to you alone while property acquired during the marriage belongs to both you and your spouse and is considered “marital property”. It is this “marital property” that the court has a right to equitably distribute. It stands to reason, then, that there will be situations in which one spouse owned a certain amount of equity before nuptials and that property or properties accrued equity during the marriage.

In this case, the equity that you owned before the marriage is still yours while the equity acquired during the marriage is what can be distributed.

How to Protect Real Estate from Divorce


If a prenuptial agreement is a foregone conclusion, then you need to consider your options carefully. There are a number of ways to hang on to your real estate investments but you will need to be willing to part with at least half of the equity in the form of money.

High-asset divorces are often mediated since divorces that go through the courts are a matter of public record. Having an accurate appraisal of the value of your properties will be the first step and a willingness to take on the negative equity or debt accrued during the marriage can also make a difference.

Additionally, there may be room to bargain with alimony or spousal support payments. You can logistically purchase the equity in your business ventures in this manner and so long as both parties sign off on the agreement, you will be able to protect your real estate investments. You can also accomplish the same thing in a lump sum payment that successfully negotiates your way out of losing control of your property.

Client Reviews

Had free consultation. Advice given was taken, and resulted in change of mind in the other/opposing party. We therefore did not need to retain. Should opposing party resume original opinion, we will retain.

Kit

I was in a terrible custody dispute with my ex. I was very upset and afraid of my ex. Rodd listened to everything I said and remembered everything I said. He was aggressive in court and used the information I gave him very well. We won the case and my ex has backed off.

anonymous

I wanted an easy divorce from my wife. She wanted a fight. Rodd and I discussed fair terms for a dissolution. Because he was pro active and stayed on top of the case, my wife and I finally reached an agreement and had a dissolution. I highly recommend Rodd.

anonymous

I hired Linda Lawrence because I have a business and I wanted to protect it in my divorce. Linda is top notch and knows about business finance and assets. I was able to keep my business and not have to pay my wife anything from it. Hire her.

Linda

I hired Linda Lawrence because I needed an aggressive attorney. Linda was able to stand up against the other attorney and was very aggressive in court. It was an expensive divorce case, but that was because the other attorney was very aggressive and Linda was very thorough. I had great results in my case and highly recommend Linda.

Joy
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Divorce Lawyer for Real Estate Investors

The Lawrence Law Office has experience in high-asset divorces and is uniquely qualified to help real estate developers who can stand to lose a great deal of their equity without the proper representation. We understand the issue from both the divorce side of the equation and from the business and real estate side. If you’re worried about protecting your investments, give us a call or talk to us online to set up an appointment today.

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Our Practice Areas

Family Law

Attorneys for Divorce, Child Custody & More At the Lawrence Law Office, we are committed to helping families in conflict find creative solutions that focus on addressing their goals and...

Divorce

Columbus & Delaware, OH Divorce Lawyers In Ohio, there is more than one way to separate from your partner and dissolve your marriage. A divorce is typically a contested proceeding, with each side...

Contempt and
Enforcement and
Post divorce

When working through your divorce with an Ohio family law attorney, chances are your divorce agreement made allowances for child support. spousal support or

Business owner
divorce

Dividing the marital assets between divorcing people can be one of the most contentious issues during the entire divorce process. Ohio law allows the couple to work together with...

Child Custody

Dividing the marital assets between divorcing people can be one of the most contentious issues during the entire divorce process. Ohio law allows the couple to work together with...

High Asset
Divorce Cases

Helping With Child Custody, Visitation & Support Updates Or Modifications Sometimes circumstances substantially change after a divorce and require parents to revisit an existing...

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