Kevin Qualls Family Law
Maintaining Professionalism. Preserving Civility. Finding Answers. Practical Guidance On Important Divorce And Custody Matters

Family law issues with rental properties

There is no doubt that Orange County has many beautiful places that make great tourist destinations, and even natives to Southern California may choose to take weekend getaways to some of this area's most popular sites.

As a result, many higher earners in the area may choose to diversify and grow their portfolios by acquiring rental properties that vacationers may pay to use for a few days or even a few weeks. Although rental properties have proven excellent investments for many Californians, they raise enough legal issues for happily married couples. During a divorce or separation, there are additional divorce issues one must consider.

For instance, whichever parent is allowed to keep the flow of rental income following the divorce is going to have to account for that income on his or her child support.

Not surprisingly, California's laws governing child support serve to provide a child a standard of living consistent with what he or she would enjoy were the couple living in the same home and sharing resources. For that reason, rental income that the family should all enjoy will count in the court's child support calculations.

Moreover, putting a value on a rental property for the purpose of property division presents and extra layer of complexity. This is because there is more than one acceptable way to look at how much a rental property is worth.

In other words, valuing a rental property is not just a simple matter of obtaining a market analysis or checking out comparable listings; one must also consider the stream of income the family will give up by selling the property.

Handling short-term rental properties in a divorce can prove to be a complicated affair in the event of a divorce or separation, so it is often advisable for one to do so with the help of experienced family law attorneys.

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Kevin Qualls Family Law
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