Ask a Lawyer and Get Answers to Your Legal Questions
Could you clarify?
Did he make the balloon payment during his marriage?
Did he remortgage this loan during his marriage?
Was the property transferred to his name only during his marriage?
Was the transfer a gift to him only?
Thank you for your cooperation.
Thank you for the information.
I will let customer service know that you are having issues with payment.
Unfortunately, if this business was transferred to him during the marriage, eventhough this business would be considered his separate property (non-marital asset), the business may be subject to property division during his divorce if he has used marital assets to run the business. Otherwise, no. See Florida Statutes Chapter 61 Section 61.075 especially subsection (1)(g).
Kindly give a positive rating to my response so that I can receive credit for responding to your post. There is no additional cost to you for doing this.