Dividing assets in a divorce is often a delicate and complex process. Married couples’ finances are usually tightly interwoven. To make a clean split, couples need to either sell jointly-owned assets or completely transfer ownership to one party. Second homes, or vacation homes, are no exception. Of course, not every couple is fortunate enough to own a second home, but for those who do, it may present special issues in the event of divorce.<\/p>\n
Just as with a primary residence, a vacation home may represent either a significant asset or a liability depending on whether the couple has positive or negative equity in the home. The value of vacation homes nationwide continues to fall. According to the National Association of Realtors, the median selling price of vacation homes fell 19 percent from 2010 to 2011. However, a couple who bought a vacation home 20 years ago, or who was lucky enough to (more…)<\/span><\/a><\/p>\n","protected":false},"excerpt":{"rendered":" Dividing assets in a divorce is often a delicate and complex process. Married couples’ finances are usually tightly interwoven. To make a clean split, couples need to either sell jointly-owned assets or completely transfer ownership to one party. Second homes,…<\/span><\/p>\n