Miami family law attorney blog
Viewing entries tagged
Non-marital Property
Posted by Nydia Streets of Streets Law in Florida Divorce
The enhancement in value of non-marital property during a marriage may be a marital asset subject to equitable distribution in a Florida divorce. How do we determine if the increase in value of property is marital or non-marital? This was an issue in the case Strickland v. Strickland, 1D21-3894 (Fla. 1st DCA October 11, 2023).
Posted by Nydia Streets of Streets Law in Florida Divorce
Before assets and debts can be divided in a Florida divorce, a court must make a determination of what is non-marital versus marital property or debt. The court must also value each asset and debt. Generally, the court starts with the proposition that each party should receive half of the marital estate. However, there are factors for the court to consider in deciding that distribution should be unequal. The case Rennert v. Rennert, 2D18-3906 (Fla. 2d DCA December 16, 2020) is one which reiterates this requirement for equitable distribution and examines the nature of non-marital property which is paid down with marital funds.
Posted by Nydia Streets of Streets Law in Florida Divorce
The distinction between marital assets and non-marital assets in a Florida divorce is important because it determines what assets a spouse will keep and/or what payments need to be made from one spouse to the other to equalize the distribution. In the case Street v. Street, 2D18-283 (Fla. 2d DCA September 30, 2020), the trial court’s equitable distribution determination resulted in the former husband being ordered to pay almost $1 million to the former wife.
Posted by Nydia Streets of Streets Law in Florida Divorce
When one spouse purchases a home using funds earned prior to the marriage, is that spouse entitled to a credit in a Florida divorce for those funds? This issue arose in the recent appellate case Erdman v. Erdman, 5D18-3043 (Fla. 5th DCA September 13, 2019) in which the former wife appealed the trial court’s decision to award the former husband more than 50% equity in the marital home based on the former husband’s claim that the down payment on the home came from funds he earned prior to marriage.
Posted by Nydia Streets of Streets Law in Florida Divorce
Can property a spouse owned before marriage be transformed into marital property? Yes, in some instances, but usually the transformation is intentional, such as a gift to the other spouse. In instances in which it is not intentional, however, the spouse claiming that non-marital property has been transformed has the burden of proving this to the court.
