Spouses who divorce have the option of negotiating the division of property themselves, known as a property settlement agreement.
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This can be done without a judge's intervention in Florida, however you may want to consult with a divorce attorney should you decide to negotiate a settlement out of court. Spouses who can come to an agreement on the division of property often avoid the cost of litigation and time required to divide property in court, and have a greater degree of control.
If you cannot come to an agreement through negotiating, it will be necessary to have a judge resolve the issues. Either way, it is advised to have an experienced divorce lawyer who can help ensure you are treated fairly when it comes to the division of property. My Florida Family Attorney Home.
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Florida Divorce - Basics of Property Division. This process is referred to as property division or distribution and it varies by state.
Some states are "community property" states, which assumes all marital property is equally owned and is therefore divided in half in most cases. Florida, like most states, is not a community property state but instead follows the much more nuanced " equitable distribution " model. This means that the court decides what's fair or "equitable" , which may not always mean equal. According to Florida statute, "the court must begin with the premise that the distribution should be equal, unless there is a justification for an unequal distribution based on all relevant factors.
Boca Raton Asset Division Lawyer
An attorney is best prepared to handle the finer points of property division during a divorce or legal separation, but it's still important to understand the laws that affect you. Therefore, we've compiled the highlights of Florida's property division laws below, written in plain English.
The following factors are considered when deciding on an equitable division of property and debts:. Non-marital assets and liabilities also include assets acquired and liabilities incurred during the marriage in exchange for such assets and liabilities for instance, buying a car with money from an inheritance.
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Note: State laws are always subject to change through the passage of new legislation, rulings in the higher courts including federal decisions , ballot initiatives, and other means. While we strive to provide the most current information available, please consult an attorney or conduct your own legal research to verify the state law s you are researching.
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Who gets the house and who gets the dog? Well, it depends. As part of a deferred distribution award, a court will usually require one or both spouses to cover maintenance fees, taxes, mortgage payments, and home owner's insurance.
Exclusive Possession Of The Marital Home In A Florida Divorce
In most cases, a judge will assign a certain real estate agent or you and your spouse can pick your own. Most couples are on the same page when it comes to selling a home because both spouses want to maximize their profits. A listing agent can recommend any updates or strategies for selling. A divorce order will typically require couples to split the costs of updates to the residence. Once a home is under contract and sold, any proceeds must be split in accordance with the divorce order.
Gifts and Divorce In Florida
Skip to Main Content. By Kristina Otterstrom , Attorney. Find out when you might need to say goodbye to your marital home. Who Gets the House? Distributive Shares A judge can award both spouses a share in the marital home. How Do I Prepare to Sell? Questions for Your Attorney Most of our net worth is tied up in our house, and I want to keep the home.
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