When Dividing Property in a Divorce, Does it Matter Whose Name is on the Title?
One of the biggest issues in any Florida divorce is how to divide property between spouses. Determining the proper split of assets and debts can greatly alter the outcome of your life once the divorce is finalized. There are many nuances involved with distributing property, which is why you should always have an experienced divorce lawyer like those at The Soto Law Office representing your interests in the case. To learn more about what goes into dividing property, call or contact our office today to schedule a consultation of your case.
Does Title Matter?
Florida is an equitable distribution state when it comes to dividing property between spouses. As such, the split of property must be equitable, but not necessarily equal, between the couple. Additional factors like whether a spouse committed adultery or acquired substantial student loan debt may impact the split. The name of one spouse or both on the title of property does not matter in a Florida divorce. The most important factor is determining what type of property it is before allocating it to one spouse or the other.
Types of Property
There are three main types of property in a Florida divorce: separate, marital, and commingled. Separate property is anything acquired by a spouse prior to the marriage, and each spouse gets to keep their separate property in a divorce. Marital property is anything acquired during the course of the marriage. This property must be split equitably between the spouses in a divorce. Commingled property is property acquired by one spouse prior to the marriage but had marital funds used to pay for or upkeep the property during the marriage. Commingled property is subject to equitable distribution just like marital property in a divorce. To learn more about how property is split in a divorce, talk to our office today.
Talk to Our Office Today
Are you in need of skilled legal representation for your divorce in the Altamonte Springs area? If so, the experienced divorce lawyers at The Soto Law Office are here to help. Call the office or contact us today to schedule a consultation of your case.