Who Gets The House In A Florida Divorce?

Of the many pressing concerns that divorcing couples face when ending their marriage, deciding who will retain the family home often proves to be one of the most complex. Fortunately, couples can try to come up with a solution for this problem on their own in an out-of-court setting, reaching a resolution that is best for everyone involved. In other cases, it may be necessary to bring in a judge to make this decision on the parties’ behalf. In both situations, there are a few different options for disposing of the house during divorce.

Potential Outcomes for the Family Home 

Couples have a few different options when it comes to deciding which (if any) party will retain the couple’s primary residence, including:

• Agreeing that one spouse will retain and continue to live in the home, which in turn typically requires a refinancing and buying out the other party’s financial interest in the property;
• Agreeing to continue to co-own the home and either rent it out to a third party or continue to allow one of the parties to live in the residence; and
• Selling the property and dividing the proceeds.

While the latter option is often the cleanest and simplest for divorcing couples, it is also not uncommon for one of the parties to wish to keep the home, especially if he or she has primary custody of the couple’s children or a deep emotional connection to the property.

Factors that Could Influence the Decision 

When a couple isn’t able to reach a consensus on the fate of the family home during divorce, a judge may need to step in and make the decision on the parties’ behalf. One of the driving factors in these decisions is whether a couple shares children. If they do, then the judge will be more likely to award ownership of the home to the parent with primary custody, but only if doing so:

• Provides a stable environment for the children;
• Allows the child to remain in closer proximity to the same school, friends, and extracurricular activities; and
• Is also the child’s preference.

Besides the best interests of the couple’s children, courts will also look into the financial implications of one party’s retaining the home, including whether:

• Either party can afford mortgage payments and handle associated costs, like maintenance, property taxes, and insurance;
• One party is willing to buy out the other’s share of equity; and
• The party wishing to retain the home has stable future earning potential and financial security.

Basically, the division of a marital home is a complicated and multifaceted issue and what the resolution of a case looks like will depend in large part on how the aforementioned factors weigh out in a particular case.

Seek Legal Counsel Today 

If you and your spouse are conflicted about who should retain your family home upon divorce, you need the advice of an experienced Florida property division lawyer who is well-versed in the nuances of this issue. Call Sandra Bonfiglio, P.A. at 954-945-7591 to get started on your case.

Sources:

 leg.state.fl.us/Statutes/index.cfm?App_mode=Display_Statute&Search_String=&URL=0000-0099/0061/Sections/0061.075.html

forbes.com/advisor/legal/divorce/who-gets-house-divorce/