What to Know About Marital and Non-Marital Properties
During a divorce , there are many settlements that need to be done. Significant importance is placed upon the distribution of marital property, which must be fair and impartial among the parties involved. Before tackling Florida rulings regarding property division in divorce , here are some facts about marital and non-marital property: · Marital property . All the properties a couple acquires after marriage and until the date of division of properties are considered marital property. This can include real estate , bank accounts , appliances , and vehicles . There are some instances, however, that a property acquired during the marriage can be considered as non-marital, i.e. if it is given as a gift by a third party to a specific spouse only. · Non-marital property . Typically, non-marital property describes the property possessed by either party before the marriage . Also termed as separate property, possessions classified as non-marital are not subject