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Florida divorce - Property Distribution.


Florida is an "equitable distribution" state. Each spouse will retain the spouse’s non-marital Property. Non-marital Property is all Property-acquired prior to the Marriage, Property acquired by gift or inheritance, and any Property considered to be non-marital according to a written agreement between the spouses. The court is required to begin with the premise that all marital Property should be equally divided. All of the spouse's marital Property may be divided on an equitable basis, based on the following factors:
 
(1) the contribution of each spouse to the acquisition of the marital Property, including the contribution of each spouse as homemaker; (2) the length of the Marriage; (3) the age and health of the spouses; (4) the amount and sources of income of the spouses; (5) the estate, liabilities, and needs of each spouse and the opportunity of each for further acquisition of capital assets and income; (6) the standard of living established during the Marriage; (7) the time necessary for a spouse to acquire sufficient education to enable the spouse to find appropriate employment; and (8) any other factor necessary to do equity and justice between the spouses. Marital misconduct is not specified as a factor in any division of Property.
 
There are also specific rules, which govern whether a party is entitled to setoffs or credits upon the sale of the marital home. Regarding credit or setoffs upon the sale of a marital home, the court shall consider the following factors:
 
(1) whether exclusive use or possession of the home is awarded and the basis for such award; (2) whether Alimony or child support is awarded to the spouse in possession of the home and whether such Alimony or child support is awarded to cover the mortgage, taxes, or other home-related expenses; (3) the value of the use and occupancy of the home to the spouse in possession and to the spouse not in possession; (4) which party will be able to claim any home-related tax deductions, including any capital gains event; and (5) any other factors.
 
[Florida Statutes Annotated: Chapters 61.075 and 61.077].
 
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