Divorce is something most couples don’t envision when they first fall in love, but unfortunately, it’s a reality many face. According to the American Psychological Association, the divorce rate for first marriages in the U.S. is around 40 to 50%. But when a marriage ends, the question arises: what happens to the shared assets, particularly real estate? Do you have to sell the house in a divorce, or is there another option? Let’s dive into how to navigate selling a house during a divorce in Miami, and who ultimately gets the house in Florida.
Do I Have To Sell My Home In A Divorce?
When dealing with selling a house during a divorce in Florida, it’s important to first establish whether the house is considered marital property or separate property. This depends on when the home was purchased and how it was financed. If the property was acquired before the marriage, or it was inherited or gifted to one spouse, it may not be subject to division under Florida law. If it’s determined to be separate property, the spouse who owns it might be able to keep it.
However, if the property is deemed marital property—purchased during the marriage or using shared assets—then Florida’s equitable distribution law will apply. This doesn’t mean an automatic 50/50 split but considers factors such as each spouse’s contributions to the household, financial situation, and even child-rearing efforts.
In a divorce who gets the house in Florida? A court will look at several factors to decide who gets the house in a divorce in Florida, including:
The value of the property.
The financial circumstances of each partner.
The employability of each partner.
Both physical and monetary contributions to the marital home.
The age and physical and mental health of each partner.
The amount of custody each spouse will have over children.
In A Divorce Who Gets The House In Florida?
When going through a divorce in Florida, state laws govern the division of marital assets, including your home. Florida follows the law of equitable distribution, which means that during a divorce, a judge will divide your assets in a manner that is considered fair, but not necessarily equal. The distribution can be based on several factors, including each spouse’s contributions to the household, such as child-rearing, the length of the marriage, and the financial and non-financial contributions made by each party.
Unlike some states with community property laws, Florida is an equitable distribution state. In community property states, like Arizona, California, and Texas, marital assets are typically divided 50/50. However, Florida’s approach allows judges to distribute property in a way that takes into account the unique circumstances of each case, rather than an automatic 50/50 split.
When it comes to the marital home, there are several options that either you and your spouse or the court might decide upon, depending on the specific circumstances of your divorce. Here are the common scenarios for dividing or dealing with the marital home in Florida:
One of the spouses buys out the other legal interest and keeps the home
In many divorce cases in Florida, one spouse may choose to buy out the other’s legal interest in the home. This means that the spouse who wants to keep the house will need to pay their partner for their share of the property’s equity. The buyer must also ensure they can refinance the mortgage in their name alone, which the court will require after the divorce is finalized. This is a common option for spouses who want to maintain stability for their family, particularly if children are involved.
One spouse keeps use and occupancy of the home for a specified period; typically when the youngest child turns eighteen, then the house can be sold.
In Florida, if you have minor children, the court may allow one spouse to remain in the home until the youngest child turns 18. This arrangement often happens when the spouse with primary custody of the children needs to stay in the home for stability. The spouse residing in the house may or may not be required to pay the mortgage, insurance, and other bills associated with the home during this period, depending on the specific court order. After the child turns 18, the house is usually sold, and the proceeds are split between the spouses based on the court’s decision
Co-own the home
In some divorce cases, particularly when children are involved, both spouses may decide to continue co-owning the marital home post-divorce. This arrangement can be beneficial if the goal is to provide the children with a sense of stability by keeping them in the same home. However, co-owning a home after divorce can be tricky, as both parties will need to cooperate in paying the mortgage and maintaining the property. In Florida, both spouses would still be on the title and mortgage until one decides to buy the other out or the property is sold.
The house is sold immediately and any equity is split up
Selling the marital home is often the simplest and most straightforward solution in a Florida divorce. Once the house is sold, the proceeds are divided between the spouses, either equally or based on the court’s decision. The speed of this process will depend on the local Miami real estate market. If the market is sluggish, or the home requires repairs or has liens, selling the house might take longer. In such cases, selling the house directly to a real estate investor or cash buyer might be an option worth considering, as it could help speed up the process and allow both parties to move on with their lives sooner.
In Florida, the division of assets, especially the marital home, can be a complicated process during a divorce. By understanding your options, including buying out your spouse’s interest, allowing one spouse to remain in the home temporarily, or selling the property outright, you can make the best decision for your situation. It’s important to work with an experienced attorney and real estate professionals to ensure that the process goes smoothly and that both parties’ interests are protected
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How To Sell A House During Divorce in Miami
1. Hire A Divorce Specialist Real Estate Agent
Before you even think about putting the house on the market, the first step is to determine who gets what, either through your lawyers or the Court. Divorce in Miami-Dade, Florida can be an emotional rollercoaster, and deciding the fate of your home can feel overwhelming. That’s why it’s important to work with a divorce specialist real estate agent who specializes in selling homes during a divorce. Listing a house an hoping somebody buys it easy. Not ever agent know Florida civil and law, a small percentage know how to sell a house during divorce. Divorce specialist are experts should know the ins and outs of the local market and can guide you through this difficult process with ease. Selling a home during a divorce can be emotionally charged. A divorce specialist real estate agent acts as a neutral third party to handle the logistics of the sale, allowing both spouses to avoid direct communication on difficult matters like pricing, showings, and negotiations. This can help reduce conflict and emotional stress between you and your ex-spouse.
There are some cons, real estate agents typically charge a commission of 5% to 6% of the sale price. This commission is usually split between the buyer’s and seller’s agents, meaning that you and your spouse will need to factor this expense into the overall cost of selling the property. If the sale price is low or there are other financial complications, this cost might feel burdensome. Another of the challenges in a divorce is that you and your ex-spouse may not agree on who to hire as the real estate agent. Disagreements over which agent to use can delay the selling process, especially if you both have differing opinions on how much the home should be priced, how it should be marketed, or what type of buyer you want to attract.
2. Agree On Home Sale Specifics
When it comes to selling a house during a divorce in Miami, there are important decisions to make. Do you need to sell quickly to split the assets and move on, or is it worth spending some extra time making repairs to maximize your profit? If you and your spouse can’t agree, the Court may need to step in.
If you decide to make repairs and upgrades to your property, make sure to agree on how to split the costs and how that investment will affect the final division of profits. Before making any major decisions or spending money on repairs, finalize these agreements with your lawyer. This will prevent any disagreements down the line when the house is ready to sell.
Besides the expenses and profits, there are many other considerations. Who will be responsible for the mortgage, the bills, and maintenance until the house is sold? Will anyone live in the house during the process? These are all details that need to be hashed out, ideally by your lawyers, before you bring the matter before the Court. This saves time and legal fees.
Another of the issues you and your spouse will need to agree on is when to sell the home. Do you need to sell immediately so that both parties can move on with their lives, or is it worth taking some time to ensure that the home sells at the highest possible price? If you and your spouse cannot agree on any of these specifics, including the sale of the home, the matter may need to be decided by a court. In Miami-Dade, the court can appoint a third party to do an appraisal.
3. Know What to Expect in Order to Close the Sale
Once you’ve agreed on the specifics of the sale with your spouse, the next big hurdle is reviewing offers from potential buyers. If you’ve priced the home correctly and the market is hot, you might receive multiple offers, which can create an exciting yet stressful situation. This is where it’s important to have a clear strategy in place. Whether you decide to accept the first solid offer or wait for one that provides the most profit, it’s critical that both you and your spouse agree on a course of action before moving forward.
In Miami, the housing market can be fast-moving, but this doesn’t mean you should rush into accepting the first offer that comes your way. When multiple offers can come in quickly, you may need to negotiate with your ex-partner which is awkward. How to sell a house during divorce fast? Be ready for when this time comes, its important to know each sides bottom number and agree on the ideal terms for a smooth closing. The best time to do this is early on, we recommend discussing this strategy before showing the house. Whether you decide to accept the first solid offer or wait for the one that will net you both the most profit, make a decision together before moving forward.
The final steps in the process can often be the most complicated, especially when emotions are running high. Once you have accepted an offer and the buyer is ready to move forward, there are still some final details to iron out.
4. Divide the Proceeds
As you approach closing day, it’s important to remember that the process isn’t always smooth sailing, especially in the case of a divorce. The judge will typically decide who gets the house or the cash based on equitable distribution. For many, this decision has already been made, but for those still in the midst of negotiations, having all the terms clear before closing can save a lot of time and confusion.
Once the house is sold, dividing the proceeds is the final step. Hopefully, by now, you and your spouse have already agreed on how the sale profits will be split, either through the Court or with your lawyers. Any liens or debts on the property will be paid off by the escrow company before you receive your share. After that, you’ll be free to move on with your life.
OR
5. Sell Your House AS-IS to A Cash Buyer
If you’re at a point where you and your ex-partner can’t agree, or if the stress of the divorce is becoming too overwhelming, selling your house to a cash buyer could be the best option. In Miami-Dade, selling to an investor or direct cash home buyer allows for a fast, straightforward sale without the need for further negotiation or lengthy court involvement.
By knowing what to expect, you ensure that you and your spouse are both on the same page and that the division of proceeds goes as smoothly as possible. A clean, quick sale with minimal disagreements is always the goal, and with the right team of professionals helping guide you through selling a house during a divorce in Miami, you can make the process less stressful and more efficient for everyone involved.
Cash buyers purchase properties as-is, meaning that even if your home needs repairs or upgrades, they’ll still buy it at a fair price. This can be especially helpful for couples who need to move quickly and get the property sold without the complications of traditional home sales. It’s a hassle-free option that allows both parties to close quickly and move on with their lives.
We have added a video below if you are more of visual leaner.
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Got a property to sell fast due to divorce? We’ve got a solution that works for you! Reach out today and get a fair cash offer for your home or rental property. Whether the house is in need of repairs or has suffered damage over time, we’ll handle it all after you accept our offer. Selling a house during a divorce has never been easier—no stress, no complications. Let’s get started today!