Posted on: 18th Sep, 2008 02:26 pm
If a home was gift prior to or during a marriage to one party, in the State of Florida is the home still considered joint property?
Hi just!
Though, Florida is an Equitable Distribution State and the general norm is to divide the property equally (i.e. 50-50) during separation or divorce, property acquired through gifts or inheritance prior or during the marriage is excluded. Thus, whoever has his or her name in the title owns the property. It is not considered as a joint property.
Though, Florida is an Equitable Distribution State and the general norm is to divide the property equally (i.e. 50-50) during separation or divorce, property acquired through gifts or inheritance prior or during the marriage is excluded. Thus, whoever has his or her name in the title owns the property. It is not considered as a joint property.
Hi just!
If a property is gifted before or during the marriage as a gift it will not be considered as a joint property.
Thanks,
Jerry
If a property is gifted before or during the marriage as a gift it will not be considered as a joint property.
Thanks,
Jerry