Understanding Division Of Property
Your property falls into one of two categories: marital and non-marital. Only marital property — that which is obtained or significantly altered during the course of a marriage– is eligible for division of property. The first step in divorce is to determine what property falls into which category. But, the answers are not always cut-and-dry; categorization can change. For example when one person moves into the other person’s home after a marriage and their name gets put on the deed. However, if one person has their own money, in a bank account, and that money is never used jointly, or for “purposes related to the marriage” and there are no funds added by the other spouse, then that account would most likely remain nonmarital property.
As can be expected, much litigation occurs over the distribution of assets and liabilities in a dissolution of marriage in Florida. Often, to facilitate agreement over the distribution of assets and debt, the parties will attend a mediation whereby an independent third party (often a family law lawyer) will hear the arguments of both parties and work to achieve a reasonable agreement between them. This can then form the basis for a marital settlement agreement that can be filed in court.
Request A Consultation With A Knowledgeable Divorce Lawyer
As you move forward with your Florida divorce, understand your rights and the legal processes involved in dividing property between you and your spouse. Contact The Law Offices of Justin Rickman 352-269-8652 or complete our online intake form.