Deciding what to do with the family home is often the most emotional and financially significant decision in a Florida divorce. The home may be the couple’s largest asset, and it carries memories that make objective decision-making difficult.
Florida is an equitable distribution state, which means marital assets are divided fairly — but not necessarily equally. When it comes to the home, the court considers factors like each spouse’s financial resources, contributions to the marriage, the duration of the marriage, and whether minor children are involved.
Your Three Options
Option 1: Sell the home and split the proceeds. This is the cleanest approach. The home is listed, sold at market value, and the net proceeds are divided according to the settlement agreement or court order.
Option 2: One spouse buys out the other. If one spouse wants to keep the home, they can buy out the other’s equity share. This requires refinancing the mortgage into one name only — which means the buying spouse must qualify on their own income and credit.
Option 3: Continue co-owning temporarily. Some couples agree to keep the home for a set period, often until children finish school. This requires a detailed agreement covering mortgage payments, maintenance costs, and a future sale date.
What Sloan Properties Can Do
We provide a confidential market analysis so both parties have an accurate picture of what the home is worth today. Whether you are selling now, planning a buyout, or need to understand your equity position for settlement negotiations, we can help. Contact us at (407) 961-7720 for a private consultation.
This article is for informational purposes only and does not constitute legal advice. Consult a licensed attorney for guidance on your specific situation.
