Divorce Dex.com: Passive Asset

Definition Passive Asset - real or personal property, both tangible or intangible, that increases or decreases in fair market value because of forces like supply and demand, as opposed to active forces, such as performance or conduct.

Application in Divorce For example, the value of gold bullion increases or decreases passively. The value of a gold mine may increase actively as a result of investment in new plant and equipment.

See Active Asset.

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Keeping the Marital Home in a Divorce
In a divorce, the person awarded the marital home should be certain that he or she can afford to keep it. Houses generally appreciate, but when they do, the taxes on it increase when the property is reappraised. Many times, women who keep the marital home find themselves house poor. This can be difficult because when small children are involved, judges often try to keep the children in the family home.

Contributed on 7/11/2007 by: DivorceDex.com Staff
Category: Tax Consequences (Applicable in All States)

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#117: If you are not the primary breadwinner of the marriage and have limited understanding of the finances, it is suggested that you consult with an accountant as well as a lawyer to aid in the discovery process of your divorce.

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