What Happens To Shared Property In A Divorce?

In the state of Florida, spouses who divorce are only required to divide their marital property and debts equitably. Marital property includes everything acquired by either spouse during the marriage, regardless of which one holds the title. Any assets obtained before the marriage, property acquired by gift or inheritance, or items excluded under a prenuptial agreement are considered nonmarital and will not be divided.

Call Zachary A. Vandyke, P.A., at 850-851-0864 for your free initial consultation with a lawyer. Se Habla Español!

Some assets and debts that may need to be distributed during divorce include:

  • Houses
  • Vehicles
  • Furniture
  • Electronics
  • Retirement accounts
  • Car loans
  • Mortgages
  • Credit card debt

The Equitable Property Division Process

When dividing marital property, all debts and assets will be fully disclosed and given an accurate evaluation. Once this has occurred, they will then be distributed between the spouses through negotiation. However, if both parties are not able to reach an agreement, the case will be taken to a family court in order to make an equitable distribution of the property. When determining how to equitably distribute the assets and debts, the court takes into account numerous statutory factors, which sometimes can create a long and complicated process.

Considering Divorce? Talk To A Lawyer About Your Property Rights.

In order to shorten the time necessary to divide assets and liabilities, you should have an experienced Panama City divorce lawyer helping to guide you through the process and make the situation more manageable.

As the founder of Zachary A. Vandyke, P.A., I fully understand how important it is to keep the assets that you have worked so hard to earn, and will work tirelessly to ensure that your personal and economic interests are fully protected. I can help you understand how the distribution of assets occurs following a divorce and how I can provide the legal assistance you need.

When you are ready to begin, call our office at 850-851-0864 or send us an email to schedule your free initial consultation. Se Habla Español!