Knowing the Details of Equitable Distribution is Imperative for Anyone Filing Divorce Papers in Florida
Florida Statute 61.075 is one of the most important frameworks to understand for anyone facing divorce. This is because the statute deals with the division of property. If you are facing a journey through family court, it’s important to know how a court will distribute assets during divorce. Understanding how Florida Statute 61.075 affects the assets spouses have can lessen the stress associated with the unknown.
Why Equitable Distribution is More Important than Ever to Florida Divorce
Congratulations. You didn’t take advantage of the relaxed lending practices of the first half of the decade. As a result, you deserve a pat on the back for believing that Isaac Newton actually knew what he was talking about. Thanks to your reasoning, you probably have some equity left in your house. Consequently leaving it an asset marriage rather than a liability.
You certainly have the sense to want to avoid spending any time walking the halls with the ghosts of wedded bliss past. Your browsing history reflects that spouses selling a house during divorce is at the top of your list of priorities. Unfortunately, unloading your former dream home might not be as easy as you think. Consequently, simply stating how you want spouse assets to be divided isn’t enough when both parties want to stay in the nest. It also seems that Florida Statute 61.075 fails to provide a solution under its rules for the division of marriage property.
The Division of Property and the Affect of Florida Statue 61.075 on Divorce Papers in Florida
It’s not surprising that many spouses disagree on what to do with the marital home when filing divorce papers. Especially since Florida Statute 61.075 doesn’t cover all the bases when it comes to this item of marital property. If you find yourself with this problem, Florida family law provides a solution for relief to include in divorce petitions. Partition to force the sale of the asset marital home. The family court will only deny the request of selling a house in extreme cases when seeking a division of party assets.
However, the family court will refuse to take action unless the sale is properly pled for in a separate partition count. This must be done carefully in accordance with the laws legal requirement. Consequently, if it’s not properly requested, the parties’ final judgment may not resolve these property rights or debts under Florida Statute 61.075. This is especially relevant because this scenario leaves the parties as tenants in common of the property. Yes, that’s right folks. The person you just fought so hard to cut ties with as spouses is now also your public real estate partner. BOOM, additional information overload.
The Division of Property through Equitable Distribution is Only Addressed in Family Court when Divorcing in Florida
Florida Statute 61.075 also doesn’t mention partition. As a result, if a party fails to adequately request partition in their initial pleading, the cause of action may only be brought in civil court after a parties divorce papers in Florida have been finalized. The last place you want to go after a divorce is back to the drawing board. Especially if that drawing board is attached to a search for someone charging an hourly fee.
The Best Divorce Lawyer will Review the Details of Florida Statute 61.075 so You Know what to Expect
Florida Statute 61.075 deals with the division of property and sets forth several factors for the court marital distribution of divorce property:
- Contribution to the marriage by each spouse. This includes contributions to the care and education of the children and services as homemaker.
- Economic circumstances of the parties
- Duration of the marriage
- Any interruption of personal careers or educational opportunities of either party for the benefit of the other
- Contribution of one spouse to the personal career or educational opportunity of the other spouse
- The desirability of retaining any center asset, intact and free from any claim or interference by the other party
- Contribution of each spouse to the acquisition, enhancement, and production of income. Or the improvement of, or the incurring of liabilities to, both the marital nonmarital assets of the parties.
- The desirability of retaining the marital home as a residence for any dependent child of the marriage, or any other party
- The intentional dissipation, waste, depletion, or destruction of marital assets after the filing of the petition for dissolution of marriage. Or within 2 years prior.
- Any other factors necessary to do equity and justice between the parties, this includes the consideration of taxes
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Boca Raton Family Law Attorneys Practice Areas Include:
Florida Prenuptial Agreement
Post Marital Agreement
Simplified Dissolution of Marriage
High Net Worth Divorce
Florida Alimony Laws
Division of Retirement Benefits In Florida Divorce
Division of Property
Dissipation of Marital Assets
Modification of Alimony Payments
Florida Modification of Child Support
Modification Of Child Custody In Florida