What's at Stake: Johnny Depp's (Pricey) Assets Up for Grabs

A palazzo, yacht – and an island! – could get carved up though he and Vanessa Paradis never married

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BAHAMAS ISLAND

Johnny Depp bought Little Hall's Pond Cay, a 45-acre island with six beaches, for $3.6 million in 2004. The actor once called the place "pure and beautiful" – but it may be settlement fodder now that he and longtime partner Vanessa Paradis have split. Even though the couple never married,"one has to believe they have some sort of co-habitation agreement," L.A.-based family attorney Steve Mindel tells PEOPLE.