property

One of the confusing issues that sometimes accompanies a divorce proceeding is calculating the marital portion of nonmarital property when marital money was used to pay down the principal note and mortgage. In other words, when one party has been buying a home with their own funds prior to the marriage, the home is considered nonmarital as it was purchased before the marriage. However, following the marriage, both parties pay toward the mortgage and principal. Monies gained following the marriage are considered marital funds, and in a divorce, the settlement will be calculated as such. In Florida, Family Law Statute...