We Are Getting a Divorce in Florida, What Happens to Our House?
Dividing up the marital property is never an easy task for divorcing couples. This is particularly true when it comes to dealing with the family home. Not only is your house filled with deep emotions and priceless memories, but it is also likely the most valuable asset you own. Additionally,
unlike a bank account, a house is not easily divisible. Thus, unsurprisingly, dividing the family home often becomes a major stumbling block for many divorcing couples. You and your spouse should not go through this alone. If you are getting divorced in Florida, and you have any questions about what to do with the family home, please contact an experienced Clearwater property division attorney today.
Is My House a Marital Asset?
In Florida, all marital assets, including the family home, are subject to equitable distribution considerations. Essentially, equitable distribution means that marital assets will be divided in a manner that is deemed ‘fair’ by the court. In determining what is fair, courts can look at all aspects of the marriage. Of course, equitable distribution only applies to the family home if the house is actually a marital asset. As such, the first question that couples must ask is: Who actually owns our home? In many cases, the answer is clear. If you and your spouse bought the home after you were married, and both contributed financially, the home is almost certainly a marital asset. However, if the home was purchased prior to the marriage, the question becomes more complicated. A house that was brought into a marriage may or may not be marital property. In this type of case, a comprehensive review of the individual circumstances will likely be needed to answer the question.
Divorcing Couples Should Look for Collaborative Solutions
For the vast majority of separating couples, the best way to deal with the family house is to look for a collaborative solution. One of the most simple options that is always available: Sell the home and split the proceeds. In some cases, this might be the best answer for both parties, particularly if there are no children involved and neither person has a strong attachment to the house. However, in some other cases, especially those involving children, the best option may be for one spouse to keep living in the home. Of course, without the proceeds from a sale, that makes dividing up the value of the home extremely complicated. This is where a collaborative divorce attorney can play a valuable role. The collaborative divorce process is all about finding mutually beneficial solutions to otherwise difficult problems. Do not let your family home become an issue that hurts your family or your finances.
Do You Need Family Law Assistance?
We can help. At the Law Office of Gale H. Moore P.A., our team has extensive experience handling Florida divorce cases. If you have any questions about property division, please call our office today at (727) 584-2528 to request your initial consultation. Our firm is located in Largo and we serve clients throughout the region, including in Clearwater, Dunedin, Safety Harbor and Palm Harbor.