Who Keeps the House When You Get Divorced in Florida

 Posted on September 12, 2024 in Divorce

When people get divorced, one of the most commonly asked questions is who gets to keep the house. Some people own cars, artwork, family heirlooms, and significant stocks, but for many people, their home is the biggest asset they own. It can be emotional and stressful trying to figure out who gets to keep it. Since Florida follows an equitable distribution model for dividing marital assets in a divorce, there is no one right answer. A knowledgeable Miami, FL family law attorney can explain your options and offer useful guidance.

How Does Florida Law Handle Property Division?

The simple answer is there is no simple answer. There is no law stating that the husband or wife always gets to keep the house. Instead, Florida law has two categories for the property that a couple has:

• Marital property: Anything either spouse acquired during the marriage is considered the couple’s property.
• Separate property: Anything either spouse owned before getting married is generally considered exclusively that spouse’s and would not be divided by the couple in divorce.

Since Florida follows an equitable distribution model of property division, the court needs to decide what the marital estate includes, assign value to all of the assets that are part of it, and divide those assets in a way that is meant to be as fair as possible, but not necessarily equal.

Many factors beyond the financial value of the assets are considered when calculating which spouse should get what. These include:

• Each spouse’s financial situation
• Each spouse’s earning capacity
• Each spouse’s contribution to the other’s professional development or career
• Each spouse’s contribution to the household
• How long the couple was married

Is It Always Best to Keep the Family Home after Divorce?

Two main aspects can help you decide whether you even want the house:

• Family considerations: Assuming the family home is associated with nice memories, it might make sense to have the parent with primary custody stay in the house. The stability of staying home can have a positive impact on the children who are already dealing with a lot of change and transition. On the other hand, if the home is associated with painful memories, it might be best for the children to start fresh in a new home.
• Financial considerations: Home ownership means you can be exclusively responsible for paying the mortgage balance, home maintenance costs, property taxes, homeowner’s insurance, and other related costs. You might find that the financial burden is too heavy and you would be better off downsizing to a smaller, less expensive place.

Schedule a Free Consultation with a Miami, FL Equitable Distribution Lawyer

If you are considering divorce and have questions about how your property will be divided, speak with a dedicated Miami, FL family law attorney. At Miami Family Law Group, PLLC, we explain your options so you can make an informed decision that suits your best interests. Call us at 305-520-7874 to schedule a free consultation.