The General Property Rule
In Florida, property is divided 50-50 if it is considered “marital property” – or property that was acquired by either spouse during the marriage. Non-marital property, which is property either spouse acquired before the marriage, is not divided equally.
Secondly, Does it matter who files for divorce first in Florida? “Since Florida is a no-fault divorce state, it does not matter which of the spouses files for divorce first,” says our experienced divorce attorney Fort Lauderdale. “When divorce papers are filed, neither party has a legal obligation to provide a cause of the dissolution of marriage.”
Who pays the mortgage when you separate?
If you both signed the mortgage forms, you’re equally responsible for repayments, regardless of your income. This is especially true if both of you decide to move out of the property, and you’ll need to keep making repayments until it can be sold.
Similarly, Is my wife entitled to half my house? Whether or not you contributed equally to the purchase of your house or not, or one or both of your names are on the deeds, you are both entitled to stay in your home until you make an agreement between yourselves or the court comes to a decision.
Do I have to sell my house if I divorce?
If either spouse refuses to leave the marital home prior to any court settlement, it is generally not possible to force through a house sale. It will be necessary to wait until a formal settlement has been reached and ideally approved by the court with a consent order.
Is husband responsible for wife’s credit card debt in Florida? When spouses have joint credit cards, car loans, and mortgages together, it is considered marital debt. Under Florida law, both spouses would be responsible for this type of debt.
How long a divorce takes in Florida? An uncontested divorce can take as little as four to five weeks. If the matter is contested — that is, the court must decide any of these issues — it can take six months or longer. In counties where the courts are extremely busy, it can easily take a year or more.
How do I prepare for a divorce in Florida? Consider these 9 steps you can take to prepare for divorce.
- Read and Understand Divorce Proceedings in Florida. …
- Collect Financial Documents. …
- Establish Personal Credit. …
- Evaluate Marital Property and Joint Accounts. …
- Close Joint Financial Accounts. …
- Openly Discuss Child Custody and Child Support.
What should you not do during separation?
5 Mistakes To Avoid During Your Separation
- Keep it private.
- Don’t leave the house.
- Don’t pay more than your share.
- Don’t jump into a rebound relationship.
- Don’t put off the inevitable.
Do I have to leave my house if my wife wants a divorce? You do not have to move out just because your spouse tells you that they want you to leave. Both parties have a right to stay in the home. No one can force you to leave your residence without a court order unless domestic violence. A temporary orders hearing must be held to get such a court order in a divorce.
Can my husband make me sell our house?
No. If both of your names are on the deeds to the property, they cannot sell without your permission.
Is my wife entitled to half my savings? If you decide to get a divorce from your spouse, you can claim up to half of their 401(k) savings. Similarly, your spouse can also get half of your 401(k) savings if you divorce. Usually, you can get half of your spouse’s 401(k) assets regardless of the duration of your marriage.
Can I buy my husband out of the house before divorce?
Yes. When it comes to real property, courts can order a sale. This is actually quite common, especially now, when many couples are facing difficult financial times. When couples separate and one spouse moves out, there are suddenly two households to maintain, often with only one income.
How is home equity calculated in a divorce?
In order to determine the amount of equity – or ownership – you have in your home, you must:
- value the house.
- subtract the outstanding mortgage balance, and.
- calculate your share of the remaining equity.
What are hardest years of marriage? In that time, I’ve noticed something: the prime number years of relationships are often the hardest (i.e. 1, 3. 7, 11, 13, 17, 19, 23, 29…) Often, it seems these years correspond with significant transitions and pressure points in marriage.
What happens to a joint mortgage when you divorce? A joint mortgage means you’re both liable for the mortgage debt until it has been completely paid off – regardless of whether you still live in the property. If you miss a payment or fall behind on payments, it will negatively affect your credit score, and that of your ex-partner.
Does the wife always get the house in a divorce?
Property is usually designated as separate if it was a gift or inheritance or it was acquired before the marriage. Generally, spouses keep their own separate property in a divorce.
How do I protect myself financially from my spouse? A financial advisor can help.
- Be Honest With Yourself About Their Financial Tendencies Before Marriage.
- Have a Heart-to-Heart With Your Spouse as Soon as Possible.
- Take Over Paying the Bills Yourself.
- Seek Financial Help and Counseling.
- Protect Yourself and Your Own Finances.
- Bottom Line.
- Financial Planning Tips.
Can a lien be placed on my house for a spouse’s debt in Florida?
If you bought a house after you married, the home is considered community property, even if your name is on the title and your money built up the equity. Because it’s a joint asset, your spouse’s creditors can put a lien on the house for his or her debt.
Is alimony awarded in Florida? Under Florida law, alimony is granted to a spouse and it can be awarded to bridge the gap, be rehabilitative, i.e., intended to get the person to a position where he or she can take care of expenses without assistance, durational, or permanent.
Don’t forget to share this post !