Real Estate Attorney Miami: Who Gets the House in a Divorce?

Real Estate Attorney Miami: Who Gets the House in a Divorce?

When you decide to get a divorce in Florida, it’s critical to understand how the courts will split your property between you and your spouse. Perhaps most importantly, determining who will get your house if you own one can be a complicated process.

Who gets the house in a divorce depends on a few different factors. Let’s take a look at some of them.

Real Estate Attorney Miami: Separate vs. Marital Property

Florida divorce law follows what is known as equitable distribution. Equitable distribution effectively splits the marital property held during a marriage equally between both parties. In general, most of the property that you acquire during your marriage is marital property. Anything that you or your spouse acquired before you got married is considered separate property, which is not subject to equitable distribution.

Certain exceptions, however, can change the designation on your family home from separate property to marital property, even if you purchased the home before you got married. For instance, if both your and your spouse’s names appear on the deed as owners, your home could be subject to equitable distribution. It’s critical for divorcing spouses to seek advice from an attorney to determine whether their property is considered separate or marital property.

Real Estate Attorney Miami: Paying the Mortgage

If the courts rule that the family home is indeed marital property, then a few things might happen. Both spouses can agree to sell the house and split the proceeds. In other circumstances, one spouse might choose to continue living in the house. In such a case, the spouse who stays in the home will be responsible for paying the mortgage. If you are the other spouse who does not remain in the home, you might think that you are no longer responsible for paying the mortgage if the other spouse fails to pay. Because the bank did not agree to the terms of your divorce, that might not be the case if you don’t take certain steps to protect yourself in your divorce settlement agreement.

What you must do to ensure that you won’t be responsible for any mortgage payments is seek indemnification from your spouse. An attorney who is experienced in real estate and divorce law will help you make sure you are protected.

Real Estate Attorney Miami: Get in Touch with AM Law

Real estate and divorce law in Florida can be complicated. That’s why it’s critical that you talk to an expert attorney who has experience practicing both of these areas of law before you settle your divorce case. Get in touch with the attorneys at AM Law in Miami if you want to make your divorce go as smoothly as possible. Contact us today. We are here to help.