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High net worth property division problems for political candidate

On Behalf of | Oct 3, 2018 | Firm News, High-net Worth Property Division |

Many California married couples are property owners. In fact, some spouses invest in multiple real estate endeavors during marriage, which can create complications regarding high net worth property division if they later divorce. A political candidate in another state understands this all too well as she is currently facing numerous legal and financial problems related to her divorce.  

While running an aggressive campaign for a congressional seat, the candidate has also been dealing with the fall-out of her divorce that was settled eight years ago. One of her main concerns pertains to a foreclosure. It seems she had her name removed from the deed to one of her many homes when she and husband divorced but her name remained on the mortgage loan, which, she says, her husband had agreed to pay off as part of their settlement.  

As it turns out, Renzo Maietto, former spouse of Florida congressional candidate Maria Elvira Salazar, defaulted on the loan. Salazar is now legally accountable for the foreclosure on the $2 million mortgage. The former couple’s history of purchasing luxury properties together began in 1999. They were reportedly financially well-off while the economy thrived but hit hard times, like so many other homeowners, when the economy crashed.  

Salazar is definitely not the only one in Florida, California or elsewhere who is facing high net worth property division problems at this time. There is a strong legal support system in place in this state and others to help those concerned with such matters to protect their rights and best interests in court. An experienced attorney who is well-versed in property division laws can help determine a best course of action to avoid serious economic loss in divorce.