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Types of property and their division in Florida

If you are going through a divorce, one of your biggest logistical concerns will probably be the division of your property. Since couples tend to accumulate assets over the course of their relationship, the process of dividing those assets is often a complicated one. Each state has its own rules and regulations concerning property division and Florida is no exception. However, before you can reasonably consider how property will be divided, you must first understand the different types of property.

Student loan obligations and divorce

There are numerous financial issues to consider before filing for divorce. A couple may focus on divvying up their assets, but debts also need to be considered during the process. As an equitable distribution state, Florida courts do not necessarily divide marital property equally, but both assets and debts will be allocated in a manner in which the judge deems to be fair. Those with student loans might be expected to share in those obligations based on various criteria.

When unmarried couples buy homes together

Today, many Florida couples are choosing to live together instead of getting married. While some do so as a stepping stone on the way to eventual marriage, others just don't feel like tying the knot. Some of these couples decide to purchase homes together, and there are reasons why they might not want to do so.

Keeping or selling marital property in a divorce

When a Florida couple obtains property during their marriage, the couple's decision of what to do with that property during a subsequent divorce can be complicated. Neither party should allow their emotions to control their decision. For example, if the marital house is too large for a single person and the couple has no children living at home, it may be a good idea for them to sell the property and divide the proceeds.

Keeping the family home after a "gray" divorce

Florida couples may be interested to learn that the number of "gray" divorce approximately doubled between 1990 and 2014. The term refers to marital breakups involving people who at at or over the age of 50. Many of these individuals were together for many years and often amassed real estate and other assets throughout their marriage.

Why many divorced spouses continue to share a mortgage

Dividing a house during a divorce can be so complicated that some ex-spouses in Florida are actually choosing to keep living together. Although cohabitation after a divorce may sound impossible to some estranged couples, others find themselves in a situation where they are 'house poor" and have no other option.

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Pilka & Associates, P.A.
213 Providence Road
Brandon, FL 33511

Phone: 863-236-9321
Phone: 813-653-3800
Fax: 813-651-0710
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256 North Kentucky Avenue
Lakeland, FL 33801

Phone: 863-236-9321
Phone: 863-687-0780
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Local Number 863-687-0780

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