Couples discussing terms for a property division settlement in a Florida divorce may end up disagreeing about their home. Staying in the home can be a matter of pride or convenience.
The spouses may need to consider their situations carefully before they set and begin working towards specific divorce priorities. Many people start fighting for possession of the marital home before reviewing their situation objectively.
Certain key details about the situation can influence whether staying in the home is a reasonable and achievable goal or not.
1. Child custody
If there are still minor children living at home, the initial arrangements for joint custody can influence how the courts address the marital home. In many cases, the parent assuming more responsibility for the children may have a stronger claim to stay in the home for the children’s stability.
2. Financial circumstances
Frequently, one spouse may earn far more than the other and may have a higher credit score as well. People preparing for divorce may need to assess their circumstances carefully to determine if they can cover mortgage costs and the other financial obligations of home ownership with just their own income.
3. Maintenance capabilities
Owning a home isn’t just about paying a mortgage. The ability to manage maintenance needs or to afford to outsource them is critical to retaining ownership of real property without the support of a spouse.
People who choose to give up possession generally still have a right to a fair share of accumulated equity. Focusing on practical and achievable property division goals can help people manage the divorce process with less stress. The assistance of a lawyer familiar with Florida’s property division statutes can help people understand their rights and prioritize appropriate terms when addressing high-value marital assets.