When most people think of divorcing couples who own homes, they may likely think of the question: who will get the house? This question usually implies that one spouse or the other will remain in the family home, while the other spouse must find a new residence. However, there is another option that many spouses do not consider—that neither spouse will get the house.
If a couple cannot reach an agreement regarding who may stay in the home, the issue will have to be litigated in court. The court will look for a way to most equitably divide the property in accordance with Florida divorce law. Often, this may require the couple to sell the family home at fair market value, pay off the mortgage, and then divide the net proceeds equitably, if there are any.
Note that equitable distribution of property is not always 50/50 as the court considers many factors when deciding how to fairly divide property. For example, if one spouse had an affair, gambling problem, shopping addiction, or other factor that caused them to waste marital funds, the court may award that spouse significantly less proceeds for the home sale.
Selling the home may not always be preferable for divorcing spouses, especially if there are children who do not wish to be uprooted or if there will not be enough net proceeds for future down payments on separate properties. While a court will examine all of these circumstances, there is always a chance that the judge will order the sale of the family house in a Florida divorce even if it is against the wishes of the spouses.
The Importance of Working Towards Agreements in Divorce
Divorce can be complicated, especially if you and your spouse own a home or other substantial property. If you cannot agree on certain matters, such as who will remain living in the house, you risk leaving those decisions up to the divorce court. The decision by the court may not be the solution either of you preferred, so it is always better to negotiate and work together to agree on important matters. Working together may be difficult if your relationship has deteriorated beyond a certain point, and in such situations, an experienced divorce attorney can work to negotiate on your behalf.
An attorney will not let emotions cloud his judgment during the divorce process and is therefore able to focus on what is best for you. Spouses who have qualified attorneys often have a better chance of coming to agreements and avoiding litigation. This is usually preferable as litigation can be costly, time-consuming, stressful, and will often end up in a less desirable result—such as selling the home and dividing the profits.
Contact an Experienced Boca Raton Divorce Attorney for Assistance
Alan R. Burton is a highly experienced divorce attorney who has many resources to try to keep divorcing spouses out of court and come to agreements on their own. If you are facing divorce, contact our office today for help.