Sadly, beloved celebrity couple Bennifer (that’s Ben Affleck and Jennifer Lopez for those of you who don’t follow such things) is no more. Lopez filed for divorce recently and things are likely to get messy, financially. The pair has listed their 12-bedroom, 24-bathroom (!) Beverly Hills mansion for sale, and the details are unbelievable.
The Background
Ben and J-Lo were a high-profile Hollywood couple back in the early 2000s, and they were the talk of the town briefly. It makes sense: one is an A-list actor, the other an acclaimed singer. Still, they inevitably broke things off and went on to each get married to other people and have kids.
Eloping
In 2022, after each being through at least one divorce each, the two got back together and eloped to Las Vegas. The couple later held a huge ceremony at Affleck’s property near Savannah, Georgia. Many fans found this to be downright heartwarming. A couple that had been together nearly twenty years prior finding each other again and getting married is storybook stuff!
Recent Projects
In the intervening years, both have been busy, with Affleck starting a new production company called Artist’s Equity with his best friend Matt Damon. Lopez, meanwhile, has put out tons of music, including the album This is Me… Now. Keep all that in mind, as it’s going to be important later.
A Sudden Divorce
Lopez cancelled a portion of her This is Me… Live tour in April of 2024, citing personal reasons. She publicly apologized to fans but stated she needed to deal with some important family business. It seems possible now that this could be related to her filing for divorce from Affleck a few months later in August 2024. Importantly, the two didn’t have any prenups.
You See Where This is Going
Yeah, without a prenup their shared assets are going to be a bit of a mess. In short, when a couple is married, any business ventures they launch and anything they earn while they’re together is what’s considered “community property.” That means that when they get divorced, they’re each entitled to precisely one half of the community property.
Complicated Finances
To say that an A-list Hollywood actor and a currently-touring recording artist have complicated finances is putting it lightly. Since Affleck and Damon own Artist’s Equity together, Damon is likely to be dragged into the divorce’s legal proceedings. Likewise, Affleck could have legal claims to the half of the earnings from Lopez’s recent albums and concerts.
The Mansion
That brings us to the mansion in Beverly Hills. The two went on a long quest to find their “dream house” together, finally buying it in 2023 after two years of looking for a place with the right specifications. Now, since they bought it together, it’s community property in their marriage and they’ll have to sell it and split the money they get for it. What’s more, they’ve got a $20 million mortgage on it.
It’s Pricey
The couple is asking for $68 million on the sprawling complex, but so far no one is jumping to purchase it. Real estate that expensive in Beverly Hills is really for a select few buyers. Namely, that would be other actors, musicians, and Hollywood types. Notably, the two purchased the home for just over $60 million last year, so it’s easy to see how even a wealthy person seeking a new home might balk at the price.
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Interest Rates
And the high interest rates put in place by the Federal Reserve could have something to do with why the house isn’t moving. After all, historically high interest rates on a $68 million mortgage sound like the kind of thing that could leave a lot of actors bankrupt if they don’t keep getting major roles in blockbuster movies.
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Maybe It’ll Sell After the Fed Meeting?
The Fed might be dropping interest rates soon, which could be great news for Affleck and Lopez. After all, lower interest rates on a multi-million dollar mortgage could mean some serious savings! Still, it’ll be tough to convince even the wealthiest buyers that a few renovations and one year of time passing make a mansion worth an additional $8 million.
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