The last thing that people want to think about before they get married is what the courts will say should the couple get divorced. However, this is something that you should consider as the marital property definition in Florida will differ from other states. Understanding marital property definition in Florida is the first step in protecting yourself against the chance that something goes wrong in your marriage and it ends in divorce.
Marital Property Laws In Florida
The state laws for marital property will vary and you need to be aware of this. The laws that govern marital property in Florida will be different from Texas and Nevada. There are some states which have community property laws that will determine how marital property is divided, but Florida is not one of these states.
Community property is not recognized in the state, but there is another law that governs this. The Uniform Disposition of Community Property Rights at Death Act will be adopted in the state. As Florida does not have community property laws, there are other factors which are looked at by the court to determine the division of marital property.
What Is Considered Marital Property In Florida?
Before you can consider what the courts will look at in the event of a divorce, it is important to know what is considered marital property. Marital property in Florida will generally relate to the assets that a couple acquires during their marriage. Any property or items which have been bought between the start and end of the marriage will be looked at as marital property.
The enhancement of value or appreciation of any non-marital assets will also be classed as marital property. This means that if an asset that one person had increases in value as a result of marital funds being used or work by one or both of the spouses has enhanced it, the difference between the original value and the enhanced value will be marital property. However, it is important to note that there are different rules for enhancements that come from active labor and passive appreciation.
Interspousal gifts will also be considered marital property and it is important to remember this. If one person gives the other a new car for their anniversary, the car will be considered marital property. It does not matter where the funds for the gift came from or who the primary owner of the asset is.