When you married your spouse, did he/she own any real property, or their own home? Did you and your spouse make payments towards the mortgage during your marriage, with marital funds? If the answer to both questions is “yes”, then you are entitled to share in the increased equity in your spouse’s residence, at the time of your divorce.
Specifically, if your spouse owned real property or a home, at the time you married him/her, and title to this residence is never transferred to you, then this property shall likely remain your spouse’s separate non-marital property, at the time of divorce. However, if you and your spouse paid the mortgage during the marriage, with marital funds, then even though the property remains owned by your spouse, you are entitled to share in the increase in equity in that property. The First District Court of Appeal in Ballard v. Ballard, 2014 WL 3865835, reiterated the concept as clarified by the Supreme Court in Kaaa v. Kaaa, 58 So.3d 867 (Fla. 2011), that the increase in equity resulting from paying down the mortgage on a spouse’s non-marital property with marital funds constitutes a marital asset, subject to equitable distribution.
So, if you are going through a divorce, or considering a divorce, be sure to consult the Board Certified attorneys at Sidweber and Weintraub, P.A. The expert family law attorneys at Sidweber and Weintraub, P.A. are specialists in dealing with family law issues, and they can advise you on what relief is available to you and the procedure by which to follow.
For more information on issues pertaining to Florida family law, divorce, property distribution, child support, timesharing/custody and alimony cases, please call a Board Certified Attorney at Sidweber and Weintraub, P.A., for a consultation.