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Beachfront property trades hands for $29.45 million

When couples get a divorce, all assets tend to need to be divided, unless the pair has a prenuptial or postnuptial agreement that states otherwise. It's not clear exactly what happened in this case, but when one partner wants to keep a home and the other does not, it's normal to buy out the person who isn't keeping the asset. In this case, that led to the transfer of a very expensive property.

A mansion in Manalapan has been sold for approximately $30 million, and it's likely that it comes down to the divorce of a man and woman who lived there. According to a news report from Nov. 14, the couple lived in the home, which was not yet complete, but sought a divorce. The mansion was exchanged from the ex-husband to the ex-wife in an off-market transaction.

Assuming the home meant spending $29.45 million, a price worthy of the beachfront property. The house is settled on a 2.14-acre lot and has a total of 400 feet on the beach and Intracoastal Waterway.

Prior to the house being built, the property itself sold for $9.23 million. Now, the 23,795-square-foot home has found its owner. It was part of several years' of legal challenges thanks to the home being in a trust during the divorce.

Dividing your assets can be complicated, but in many situations, even drawn out divorces can be finalized with the help of an attorney and the court system. Whether your case has drawn out for a long period of time or you're ready to settle, there are options available.

Source: Palm Beach Daily News, "Mansion in Manalapan changes hands for nearly $30 million," Darrell Hofheinz, Nov. 14, 2016

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