Property Division In Florida
One of the most difficult and complex areas of dissolution process is the division of marital property, sometimes called the marital estate. Marital property may include cars, houses, retirement benefits (pensions), business interests, cash, stocks, bonds, bank accounts, personal property and any other things of value that have been accumulated during the marriage.
Florida divorce laws provide for an "equitable distribution" of marital property.
In essence, the marital property should be divided fairly or equitably (not necessarily equally) between the parties regardless of how the property in question may be titled. The division is based upon all facts of the case and the contribution of both spouses to the marriage.
The division of marital property or estate as sometimes called is any asset acquired during the marriage by the efforts of one or both parties. This property is considered in conjunction with all other monetary awards such as alimony and interests in property.
There is no fixed way to determine how you or the court should divide the property.
Liabilities (debts) as well as assets must be considered. Other factors include the nature and extent of the property and whether it is marital property or non-marital property; the duration of the marriage; and the economic circumstances of each spouse. If you and your spouse can agree, and if your agreement is reasonable, it will be approved by the court. If you cannot agree, the court will divide the property after a trial.