Passing out Property in a Florida Breakup: Non-marital Property or Reward?

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A relationship property is something that is considered to belong to each the Husband and Wife as a pair, and to be equitably allocated by the Legal courts upon dissolution of matrimony.

A non-marital aseet is considered to belong to one person, and is not topic to distribution during the breakup.  A main issue for just about all Tampa Separation and divorce Attorneys is whether the resource in query is marital or non-marital.The idea of marital property (or liabilites) consists of the enhancement in value or appreciation in value of nonmarital resources resulting from the actions of either party during the matrimony or the use of marriage money.

This is recognized as the problem of comingly of marital funds.  And a comingling of money produces a supposition that the purpose was that of a present, and the property becomes a marital asset.For instance, think about the situation of Tom and Martha.  Tom is the owner of several properties before getting married to Martha.  

After getting married to Martha, he chooses to sell his properties, and deposits the profits from the sale into a combined checking account.  Subsequently, Martha and Tom buy a house together from the profits that had already been transferred into the joint account.  In that situation, the courtroom held that simply because Tom comingled his cash with that of the marital funds, the money lost its nonmarital personality, and the property bought then became a marital resource.

This would be true even if the joint account was officially only titled in Tom’s name alone!Alternatively, consider the situation where a wife’s name was added to an account, but  she eventually never utilized the account.  In that situation, no supposition exists of a gift simply because the wife never utilized the account, and the burden might be on her to show that any property in the account were marital and consequently subject to distribution.

It is crucial for the Tampa, FL Household Lawyer to talk about early on with the customer the correct category of the resource as non-marital or probable present.  It may modify the character of the distribution considerably.  With that said, it is additionally essential to make certain the potential value of the resource is really worth the potential expenses in lawful charges in litigating the problem.

One Comment

  1. This is recognized as the problem of comingly of marital funds. And a comingling of money produces a supposition that the purpose was that of a present, and the property becomes a marital asset.For instance, think about the situation of Tom and Martha. Tom is the owner of several properties before getting married to Martha.

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