We Are Divorcing in Florida, What Do We Do With Our House?
There are few things more stressful than going through a divorce. Divorcing couples are forced to untangle deep and complex emotional and financial ties. Trying to determine what to do with the family home touches both the emotional and financial sides of a divorce. Not only is a house the biggest financial transaction that most people make, but it is also filled with years of memories. Unsurprisingly, this leads to homes being a major issue of dispute in many divorce cases. If you are going through a divorce in Florida and a dispute has arisen over your home, please contact an experienced Orlando divorce attorney to learn more about your legal options.
Who Owns Your Home?
When dividing assets, Florida operates under the equitable distribution standard. This means that all marital assets, including the family home, will be divided in a fair manner. To understand how your home will be affected by a divorce, you must first determine whether or not it qualifies as marital property. Your home will fall into one of these two categories:
- The house was purchased after marriage began: If you acquired your house after the marriage started, it is almost certainly jointly owned. If both spouses contributed financially to the home and have their name on the deed, then it is definitely jointly owned. This means that it is marital property and will subject to equitable situation.
- The house was purchased prior to marriage: Things are more complicated in cases where the house was brought into the marriage by one spouse. That house might be separate property. Though, in some cases, a house can convert into marital property. For example, if their was a large mortgage on the house when it was brought into the marriage, and many years of mortgage payments have been put into the home before the divorce, there is a good case to be made that the house converted into marital property.
Dividing a House: Collaborative Solutions Work Best
Obviously, a house can not be easily divided unless it is sold. Selling your house, and dividing proceeds, is one option for divorcing couples. For some couples, this is a relatively easy answer. If neither spouse has much desire to remain in the home, and the house can be sold relatively easily on the market, things may be able to be resolved without much trouble. However, there are many different issues at play. In some cases, a couple may have children who still live in the home. They may not wish to move them. In other cases, it may not make sense to sell the property at the moment. Finally, one spouse may simply just wish to remain in their home. Since a home sale is not always a desirable option, divorcing couples may be able to reach an agreement to allow one spouse to remain in the home. However, this can certainly make the asset distribution process much more challenging. That being said, when the home is addressed with all other financial and child custody issues in mind, your attorney may be able to help you and your spouse find a collaborative solution that works for everyone involved.
Contact Our Office Today
Going through a divorce is never easy. There are many difficult financial and emotional aspects to a divorce, not the least of which is dealing with the family home. At the Law Offices of Steve W. Marsee, P.A., our experienced Florida divorce law team is dedicated to helping you resolve your sensitive family law issues while always fully protecting your interests.
