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Can you equally split your marital home?

On Behalf of | Apr 24, 2023 | Blog, Divorce |

Splitting property is often one of the most stressful and time-consuming parts of getting a divorce. The more high-value a property is, the worse this stress may grow.

In many cases, the property will get split equally between both owning parties. However, there are situations in which the division may favor one person over the other.

Understanding equitable distribution

Florida Legislature states that Florida is an equitable distribution state, meaning that the court will decide a fair but not necessarily equal way of dividing joint properties like a home.

For example, if one person owned a business before the marriage, this will remain theirs in the divorce. To maintain fairness, the other spouse might get compensation for any hand they had in growing the business or running it.

Housing works similarly. Say that one spouse maintains primary custody of the child and the child wants to remain within the marital home. The court will look at this scenario and gauge how to keep it equitable, such as giving the parent who relinquishes their share on the home a comparable sum of money in return.

Dealing with complex properties

The more complex an asset is, the harder it is for people to divide it equitably with as few complications and confusion as possible.

Having more information in these situations is always better than having less, as it helps reduce this confusion. This includes knowing the mortgage payments, home value, who will pay for it, how they will pay, and the best interests of every party involved.


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