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Common Questions About the Marital Home

Marital propertyThe whole process of a divorce can be emotionally draining for both parties involved. There are so many things to consider, such as child support, alimony, and finance. In Florida, if minor children are involved the issue of child support and custody will make the divorce process a little longer. Questions will arise about navigating your divorce and what to expect in the divorce process. It is important that you contact a lawyer to learn more about your legal rights and obligations. Kenny Leigh and Associates is a men only family law firm with offices in Jacksonville, Fleming Island, Daytona, Gainesville, Fort Walton Beach, and Boca Raton, Florida.

Will I have to pay alimony?

In the process of a divorce, alimony may come up. Alimony payments are based on the needs of both spouses and the ability to make payments. There are different forms of alimony payments that you may be mandated to pay. Some of these forms of alimony are

  • temporary alimony
  • rehabilitation alimony
  • permanent alimony

Temporary alimony payments are paid for just a certain amount of time. Rehabilitation alimony can be for a limited time. This is based on assisting the spouse in redeveloping skills and achieving financial independence. Permanent alimony is paid until the spouse remarries or death occurs to either party. If adultery was involved as a result of the marriage breaking down that can affect how much alimony will be paid. It is important to contact an attorney, who can assist in navigating your divorce. 

What are the challenges of dividing property in a divorce?

The division of marital property can be difficult and it can become complex. This can include houses, cars, and other benefits, such as retirement, cash, stock, bank accounts, etc. The marital property is divided in a fair or equitable way. It does not matter whose name is on what property. What a court will look at are the contributions made by both parties in the marriage. The facts of the case also play a big role in the division of property. The courts do take into account the nature of the property. They will also look at whether the property is considered non-marital or marital property. The financial circumstance you may find yourself in is also taken into account. If both parties can agree on how the property will be divided and it is reasonable, the court will approve it. If you both cannot come into an agreement, the court will decide how to divide the property after the trial is over. This is why it is important to get a lawyer who will help you in navigating your divorce.

Who gets the marital home in a divorce?

One of the biggest issues that will arise from a divorce is the marital home. The majority of the time, the house is the only property a couple owns. Neither spouse can restrict access to the other, until the home is strictly awarded to one of the spouses. There is the possibility that the parent with the children will be awarded the home. The home may also go to the spouse whose name appears in the decree. It is important to call a lawyer to help in navigating your divorce.

What happens with the negative equity of a marital home in a divorce?

If you or your spouse bought a home either through a home equity line of credit or between the year 2005 and 2007, the home may be worth less than what you paid. If there is a negative equity in your home and your spouse decides to keep the house, this may cause a problem for you if your name is on the loan or mortgage. The quit claim deed's purpose is to relinquish your legal title to the house, but it does not keep you from the financial duties. The only way you will not be liable to the lender of the mortgage is if the other spouse refinances the home. There is also the option for you to buy out your spouse’s interest. The home could have some equity, but your spouse may not qualify for refinancing. This is why it is important to talk with a lawyer who can handle these types of marital home details and help navigate your divorce.

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