The property division process during divorce implicates many things couples care about and may be concerned about during their divorce which makes it helpful for them to understand how property division is handled during divorce. Florida follows equitable property division rules which means that property will be divided during divorce as equitably as possible.
Marital property is subject to the property division process during divorce which can include houses, cars, furniture, retirement accounts, debts and other types of property. Marital property includes property and assets acquired during the marriage. It should be distinguished from separate property that is generally not subject to the property division process. Separate property includes property and assets one of the spouses had prior to the marriage, gifts, inheritances and personal injury awards.
It is important for divorcing couples to know how property designations are made and to also be aware that commingled property may also be another category of property to consider. As part of the property division process in Florida, property is divided, based on a variety of factors divorcing couples should be familiar with, as fairly as possible between divorcing spouses. Property will typically be divided equally unless there is a reason for an unequal distribution of property.
The family law process helps guide divorcing couples through the divorce process as they address divorce-related concerns including property division and others. It helps for divorcing couples to be familiar with the process and how property division rules will apply to their situation and circumstances.