I am sorry you are going through this. More information is needed to properly answer your question. Be aware however that Florida divorce laws use "equitable distribution" to divide property between spouses. Equitable distribution is different from community property law in that the financial situation of each spouse determines what percent of the couple's property each one receives. This means that it's rare that the marital property is divided on a 50/50 basis. Generally speaking, property acquired (your home) during the marriage is considered in the equitable distribution. Property includes assets and debts. Therefore, distribution is not only of property of value, but also of any financial obligations the parties incurred during marriage. I urge you to contact a local divorce lawyer to discuss your options. I wish you the best.
Legal disclaimer: The response given is not intended to create, nor does it create an ongoing duty to respond to questions. The response does not form an attorney-client relationship, nor is it intended to be anything other than the educated opinion of the author. It should not be relied upon as legal advice. The response given is based upon the limited facts provided by the person asking the question. To the extent additional or different facts exist, the response might possibly change. Attorney is licensed to practice law only in the State of Massachusetts. Responses are based solely on Massachusetts law unless stated otherwise.
More information is needed The home was purchased during the term of the marriage with presumably marital funds, which would make it a marital property subject to equittable distribution. Florida has a strong homestead laws that require spousal joinder on home loans. It would be surprising if your spouse was not a signatory on the mortgage. Even if your husband is not on the deed, he might argue a construtive trust was created. Contact a local attorney and show them the documents you have relating to the home.
** LEGAL DISCLAIMER ** This response above is not legal advice and it does not establish an attorney-client relationship. When responding to questions posted on Avvo, a general purpose response based on Florida law is provided. All relevant background details or facts related to your issue / matter is not available. Therefore, I am not in a position to give you legal advice. Further, the review, use of, or reliance upon my response does not establish an attorney-client relationship. For specific advice regarding your particular circumstances, you should consult and retain local counsel. Karen Munzer, PLLC, www.karenmunzer.com, E-Mail: firstname.lastname@example.org , Tel: (305) 654-4444.
If you can keep up the payments to the Home, the Court will probably award you the home if you agree to take the debt. If he is not on the promissory note, then he has no exposure to the bank if the payments are missed, where you do. Therefore, if the home were sold upside-down, meaning you owe more than it's worth, he would not suffer a hit to his credit score, but you would. You may need to hire an appraiser to verify this information. Plus, in order to sell a home that is underwater, you are probably going to have to do a short sale, which require lender approval. Most banks will not approve a short sale until you are at least 3 months behind in your payments, which means you are going to take a credit hit before the short sale is completed. So if you agree to take the home with the debt then, you will probably be awarded the home in the divorce. Of course, there is no guarantee when the case goes to the Judge, and there may be other facts not listed in your question that change the outcome.
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