Am I entitled to stay in the marital home upon divorce?
Most litigations involve criminal defense, personal injury and wrongful death, and domestic relations including divorce. In the case of divorce, child legal and physical custody, and property division are the issues contested in court when the concerned parties cannot come to a mutual agreement. Where equitable distribution laws apply, all properties should be divided equally. However, the downside is the lack of specific, set guidelines to determine what each spouse will receive. The court first distinguishes between marital assets (property acquired within the marriage) and non-marital (those acquired before the marriage), but untangling these assets is complicated by the many exceptions in the process.
Marital and Non-marital Property
Even before hiring the services of a Miami divorce & mediation lawyer or a Miami family attorney, the following information may help:
1.When titled jointly, the non-marital property becomes marital.
2.Acquisitions and liabilities incurred during a marriage is considered marital, whether got jointly or by one spouse; similar assets or liabilities preexisting the marriage are non-marital
3.Gifts from one spouse to another within the union become marital property
4.Non-marital assets whose value increases during the marriage become partly marital, as do annuities, pensions, retirement funds, and insurance plans.
In view of the above, the court then considers factors such as
1.The length of the marriage.
2.Each spouse’s economic importance.
3.Others like whether one spouse gave up a career to be a homemaker, and the intricacies involved in dividing a joint asset where only one spouse is actively involved, say a business.
4.Whether one spouse and a child continues living in the marital home.
The Division of the Marital Home
To determine the occupant of the home after a divorce, the judge does the following:
1.Assess the circumstances – whether it is a marital or non-marital asset.
2.He may rule that the home is sold, the proceeds divided.
3.Order it be sold later if it is the primary property, and allow one spouse to reside in it until it is sold, especially if there are minor children involved.
4.In cases where one spouse expresses a deep interest in living in that home, the judge determines the additional assets or money to award the other spouse.
5.In the case of a difficult sale due to a bad real estate market, the judge could allow the couple to sell the home when the market improves.
Engaging a Miami Divorce Lawyer could ensure a favorable settlement where both partners’ interests are taken into consideration. It is advisable to involve experienced counsel, like The Law Office of Scott A. Ferris, to ease the emotional turmoil when dealing with divorce.