I Am Getting Divorced In Pasco County, Florida. Our Major Asset Is The House - Who Gets It?
For many divorcing couples, their major (or only) asset is the house. There may be a lot of emotions surrounding the house, especially if children are involved.
If the house was acquired during the marriage, or is in both names, it is divided like other assets during a property division.
There are a lot of options on how to fairly split the house in a property division. Florida is an equitable distribution state, and marital property acquired during marriage with marital funds or labor is divided equally in a divorce, unless there are special circumstances involved.
The best thing you and your spouse can do is to agree how the house should be divided. If children are involved, the court is likely to award the house to the parent with primary responsibility for the care of the children, if financially feasible. This is done in order to make the situation as easy for the children as possible.
If children aren’t involved, the house is like any other marital asset. The spouses may agree that one will buy out the others interest in the house. They could also agree to sell it and split the proceeds.
If the spouses can’t agree on who will get the house, the court will decide. The court may order the house sold, or award it to one spouse or the other, depending on the facts and each spouse’s ability to pay for the upkeep of the house.
If you are divorcing and are concerned about the division of the marital home, the best thing to do is to contact a Florida divorce attorney. The attorney can help guide you towards an amicable resolution, and if that’s not possible, will fight for your rights to the marital home in court.