If I contest a divorce and the house is in my name, what is my chance on losing the house?

Full question:

If I contest a divorce and the house is in my name, what is my chance on losing the house? The money to purchase the House was given to me while married.

  • Category: Divorce
  • Subcategory: Property Settlements
  • Date:
  • State: Florida

Answer:

Florida is a so-called "equitable distribution" state. This means that the division of property and debts between the divorcing parties should be fair and equitable, but not necessarily equal. The court begins with the assumption that property should be equally divided, regardless of whose
name it's in, unless there is a justification for unequal division.

Generally, separate property acquired before the marriage or by gift or inheritance during the marriage may be excluded from the marital estate if neither the property nor its income has been used for the common benefit of the parties during their marriage.

This content is for informational purposes only and is not legal advice. Legal statutes mentioned reflect the law at the time the content was written and may no longer be current. Always verify the latest version of the law before relying on it.

FAQs

Equitable distribution in Florida refers to the fair division of marital property and debts during a divorce. The court aims to achieve a fair outcome, which may not always mean an equal split. Factors considered include the length of the marriage, the financial circumstances of each spouse, and contributions to the marriage. It's important to note that property titled in one spouse's name can still be classified as marital property if acquired during the marriage with marital funds.