Generally when a married couple initiates their divorce what begins then is the division of their finances and financial assets. There are often issues regarding the determination on what each party’s financial resources are, and the worth of those resources. In some instances, there may be third parties who have an interest involved in those assets. For example, parents who issued a loan to the couple for the purchase of a family home.
When it comes to these situations, what happens typically is that one of the separating parties either challenges or denies the interest sought by the third party. Because of this, the third party would then have to defend their interest by intervening in the process of the couple’s divorce. Once this matter is taken into courts, the court would then have to determine the extent of the third party’s interest. This procedure would have to be separate before the financial claims can be resolved between both spouses involved in the divorce.
There are multiple other cases when it comes to third-party claims. A few examples where other parties may intervene in financial remedy proceedings include:
- Business partners (could be siblings or other family members) of an individual who is getting a divorce would wish to protect business assets from that divorce. This could be done by defining the extent of the interest of the divorcing individual’s spouse.
- When a divorcing party would have agreed to accommodate or look after a parent in a family home, this may not be possible during a divorce. In this case, the parent may have a claim of their interest being considered.
It is essential in these cases that a third party, as well as both parties involved in the divorce, should receive expert advice from a competent divorce attorney Orlando fl, in ensuring that their interests are adequately considered and protected.
The Erin Morse Law firm is a Florida based family law firm. The firm consists of a competent set of well-established and practiced lawyers. These lawyers would be able to offer their affordable and skilled services to ensure that clients receive the best results in their unique cases.